Singapore's economy, already in recession, shrank 4.2 per cent in the fourth quarter of 2008 from a year earlier, with overall annual growth coming in at 1.1 per cent, the government said on Thursday. The Ministry of Trade and Industry (MTI) said it was maintaining its 2009 forecast of a shrinkage in gross domestic product (GDP) of between 2.0 and 5.0 per cent. On a seasonally adjusted annualised...
Singapore Economy 2008
Singapore’s economy expanded at a slower-than-expected annualised rate of 14.6 per cent in the first quarter from the fourth in a seasonally adjusted and annualised basis. In a statement, the Ministry of Trade and Industry (MTI) said that GDP grew by 6.7 per cent year-on-year in the first quarter of 2008, up from the 5.4 per cent increase in the preceding quarter. Manufacturing expanded 12.4 per cent...
Singapore’s economy has not only averted a technical recession but bounced back with a vengeance in the first quarter of this year. Flash estimates show GDP grew 7.2 per cent year-on-year, thanks largely to a big swing in pharmaceutical exports. On a quarter-on-quarter basis, the economy grew a surprising 16.9 per cent. However, experts warn about getting too excited. This flash estimate may not give...
Singapore’s economy grew an annual 7.2 per cent in the first quarter, faster than the 5.4 per cent expansion recorded in the previous three months, the government said on Thursday. Last quarter’s performance was also better than economists’ average growth forecast of a 6.4 per cent expansion. On a quarter-on-quarter seasonally adjusted annualised basis, real gross domestic product for the first...
Singapore's economy will grow 5.7 percent in the first quarter from a year ago, picking up slightly from a 5.4 percent expansion in the fourth quarter, a central bank survey showed on Monday. However, growth in the full year will slow from last year’s pace of 7.7 percent to 5.6 percent, the Monetary Authority of Singapore's (MAS) quarterly survey of 19 economists showed. In a statement, MAS added that...