Dec 9, 2009
5.5% growth for next year
<!-- by line -->By Robin Chan
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The survey conducted by the Monetary Authority of Singapore also sees drastically improved numbers for the last three months of this year. -- ST PHOTO: SAMUEL HE
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SINGAPORE economy is expected to expand by 5.5 per cent next year, a suvey of private sector economists has shown.
This is one percentage point higher than their expectations in September. The forecast by the 20 private sector economists is better than the Government's official prediction for a 3 per cent to 5 per cent growth in 2010.
The economists expect first quarter gross domestic product (GDP) to shoot up 9.6 per cent before moderating to 6 per cent in the second quarter.
All the sectors of the economy are expected to grow next year with manufacturing predicted to see a healthy 6.3 per cent expansion while exports should recover to 10.1 per cent growth. Inflation expectations were also revised upwards to 2.8 per cent from 1.5 per cent.
The survey conducted by the Monetary Authority of Singapore also sees drastically improved numbers for the last three months of this year.
The economists revised their growth forecasts for the fourth quarter from 1.9 per cent to 4.7 per cent, based on much smaller contractions in manufacturing, financial services and hotels and restaurants. But they expect exports contracting by 12 per cent in the fourth quarter, worse than the 11.5 per cent they predicted three months ago.
<TABLE border=0 cellSpacing=0 width="100%"><TBODY><TR><TD class=heading>Latest comments</TD></TR><TR><TD id=messageDisplayRegion width="100%"><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" class=Post cellSpacing=0 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left>Like i've said before, the whole world is in contraction next year, but this gov keeps talking up the market.
Who are we seeling our products to, china, malaysia, india , middle east or good old us of a ???
Gov's world wide is in serious trouble with stimulus packages and sin gov is going to ruin the people's hard earn reserves spending on APEC and the craps, but no money, jobs for it's citizens. (not FT please)
This is classic case of tallking up the market, dubai is bleeding with vacant buildings, commercial, residential, offices, and palm island is on fire sale, etc etc
China is going to be in serious trouble comes next year, bubbles all over. India, dream long time more for them to pop up the world market, SEA, all into selling it's whatever you name it and who is buying, all above.
</TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left>Posted by: eaglefly at Wed Dec 09 13:23:30 SGT 2009
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5.5% growth for next year
<!-- by line -->By Robin Chan
<!-- end by line -->
<!-- end left side bar -->
<!-- story content : start -->
SINGAPORE economy is expected to expand by 5.5 per cent next year, a suvey of private sector economists has shown.
This is one percentage point higher than their expectations in September. The forecast by the 20 private sector economists is better than the Government's official prediction for a 3 per cent to 5 per cent growth in 2010.
The economists expect first quarter gross domestic product (GDP) to shoot up 9.6 per cent before moderating to 6 per cent in the second quarter.
All the sectors of the economy are expected to grow next year with manufacturing predicted to see a healthy 6.3 per cent expansion while exports should recover to 10.1 per cent growth. Inflation expectations were also revised upwards to 2.8 per cent from 1.5 per cent.
The survey conducted by the Monetary Authority of Singapore also sees drastically improved numbers for the last three months of this year.
The economists revised their growth forecasts for the fourth quarter from 1.9 per cent to 4.7 per cent, based on much smaller contractions in manufacturing, financial services and hotels and restaurants. But they expect exports contracting by 12 per cent in the fourth quarter, worse than the 11.5 per cent they predicted three months ago.
<TABLE border=0 cellSpacing=0 width="100%"><TBODY><TR><TD class=heading>Latest comments</TD></TR><TR><TD id=messageDisplayRegion width="100%"><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" class=Post cellSpacing=0 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left>Like i've said before, the whole world is in contraction next year, but this gov keeps talking up the market.
Who are we seeling our products to, china, malaysia, india , middle east or good old us of a ???
Gov's world wide is in serious trouble with stimulus packages and sin gov is going to ruin the people's hard earn reserves spending on APEC and the craps, but no money, jobs for it's citizens. (not FT please)
This is classic case of tallking up the market, dubai is bleeding with vacant buildings, commercial, residential, offices, and palm island is on fire sale, etc etc
China is going to be in serious trouble comes next year, bubbles all over. India, dream long time more for them to pop up the world market, SEA, all into selling it's whatever you name it and who is buying, all above.
</TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left>Posted by: eaglefly at Wed Dec 09 13:23:30 SGT 2009
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