2008

MTI revises economy growth forecast for 2008 to 4-6%

Singapore's economy is expected to grow by 4 to 6 percent this year, down from the previous forecast of 4.5 to 6.5 percent. The downward revision is the result of deteriorating external economic conditions and greater downside risks, said the Trade and Industry Ministry, in a report on Thursday morning. According to the report, current conditions suggest that the US will likely enter a mild recession in...

Local SMEs cautiously positive about economic outlook

Small and medium enterprises (SMEs) remain positive about Singapore's economic outlook this year. But sentiment has turned somewhat cautious, according to the latest survey by banking giant HSBC on Small Business Confidence in Asia Pacific. Compared to 2007, SMEs will be taking on a more conservative approach this year as the economy is expected to moderate amid a likely slowdown in the US. HSBC is...

Citigroup revises Singapore’s GDP growth this year to 5.6% from 6.2%

Citigroup has revised down Singapore's economic growth forecast this year to 5.6 percent from 6.2 percent, amid market uncertainty. However, the lender said it is confident about strong growth in emerging Asian markets for 2008. Citigroup is also predicting that equities will be the asset class of choice. With the volatile market, Citigroup is also advising investors to keep a close eye on telecom, banks...

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