Consumer prices in S'pore fall for 24th consecutive month
http://www.todayonline.com/business/consumer-prices-fall-24th-consecutive-month
http://www.todayonline.com/business/consumer-prices-fall-24th-consecutive-month
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Serious Recession in Singapore
- Thread starter AsiaDK
- Start date
Why Singapore’s Economy Isn’t As Bad As You Think It Is
https://vulcanpost.com/594826/singapore-economy-isnt-as-bad-as-you-think
Now, I am ashamed that the title of this thread makes us sound like Chicken Little.
https://vulcanpost.com/594826/singapore-economy-isnt-as-bad-as-you-think
Now, I am ashamed that the title of this thread makes us sound like Chicken Little.
Look at the end of the article regarding who is responsible for the information:
"This article was written by NTUC, who wants you to know that in spite of the bleak economic outlook currently, not all is doom and gloom."
Take it with a grain of salt because it's just another piece of propaganda.
"This article was written by NTUC, who wants you to know that in spite of the bleak economic outlook currently, not all is doom and gloom."
Take it with a grain of salt because it's just another piece of propaganda.
Singapore's non-oil domestic exports (Nodx) are expected to shrink 5 to 5.5 per cent this year on the back of lacklustre global growth - a larger contraction than the 3 to 4 per cent contraction previously forecast.
http://www.straitstimes.com/business/non-oil-domestic-exports-down-54-in-q3
http://www.straitstimes.com/business/non-oil-domestic-exports-down-54-in-q3
business conditions at the world's second-busiest container port belie the optimism of the project. Container throughput fell 8.7% to 30.9 million TEU in 2015, the lowest level seen since 2011 and the first decline recorded since the global financial crisis.
http://asia.nikkei.com/magazine/201...-push-ahead-with-expansion-despite-trade-woes
http://asia.nikkei.com/magazine/201...-push-ahead-with-expansion-despite-trade-woes
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business conditions at the world's second-busiest container port belie the optimism of the project. Container throughput fell 8.7% to 30.9 million TEU in 2015, the lowest level seen since 2011 and the first decline recorded since the global financial crisis.
http://asia.nikkei.com/magazine/201...-push-ahead-with-expansion-despite-trade-woes
don't you worry. pap is here to save the day (by massaging some numbers and viola!) where got recession
http://www.channelnewsasia.com/news...3-mti-narrows-full-year-forecast/3313976.html
On a quarter-on-quarter, seasonally adjusted annualised basis, the local economy shrank 2 per cent, coming in better than advance estimates of an unexpectedly sharp 4.1 per cent contraction. Economists surveyed by Reuters had expected Singapore’s third-quarter GDP growth to be down 2.5 per cent from the previous three months.
However, compared to the second quarter, Thursday’s GDP numbers painted a slowing picture of Singapore’s economy, which had managed year-on-year growth of 2 per cent and quarter-on-quarter expansion of 0.1 per cent during the April to June period.
GDP GROWTH TO REMAIN "MODEST": MTI
MTI said it has narrowed its full-year GDP forecast to between 1 and 1.5 per cent for 2016, compared with an earlier forecast in August of between 1 and 2 per cent.
"Global economic conditions have remained sluggish, with full-year growth likely to come in marginally weaker than in 2015," said MTI Permanent Secretary Loh Khum Yean, who added that the local economy grew at a slower pace of 1.7 per cent in the first three quarters of 2016, compared to 2.1 per cent over the same period a year ago.
GDP growth for the rest of the year is expected to remain “modest”, the MTI said.
"Sectors such as electronics, information and communications, and other services industries are likely to continue to support growth, while the wholesale trade, and finance and insurance sectors could continue to face external headwinds," the ministry said in its report.
BREXIT, CHINA DEBT DEFAULTS ADD TO UNCERTAINTIES
For 2017, Singapore's economy is expected to grow between 1 and 3 per cent.
But even as global growth is expected to pick up slightly, downside risks such as Brexit and risk of debt defaults in China remain, MTI said.
In addition, political risks and uncertainties have risen, and could in turn lead to greater economic uncertainties, MTI added. In particular, an increasing backlash against globalisation could further dampen global trade which is already weak, while economic uncertainties could negatively affect business and consumer confidence, the report said.
Against this backdrop, the growth outlook for the Singapore economy will remain modest in 2017, MTI said.
When asked about the likelihood of a technical recession, Mr Loh said the economy "should avoid" another quarter-on-quarter contraction in the last three months of the year.
Growth in the final quarter will likely be "modest" with support coming from electronics, IT and other services industries, Mr Loh added.
Employment growth in the near term is expected to be weak, MTI added, given weak conditions in the external environment.
SINGAPORE TO CONTINUE WORKING ON TPP
On the international front, US President-elect Donald Trump's protectionist stance has stirred concerns of how that could affect global trade, and in turn weigh on Singapore's small and open economy.
Given that the US is one of Singapore's top trading partners and an important source of foreign direct investment (FDI), the trajectory of the world's biggest economy and how it manages its trade relations will affect its partners around the world, Mr Loh said. However, it remains "too early to speculate on the impact of the new administration" which will "depend on the actual policies that the new presidency will adopt", he added.
The President-elect said earlier this week that he would move to pull the US out of the Trans-Pacific Partnership (TPP) trade deal the day he takes office.
Regarding Singapore's stance on the TPP, Mr Loh said: "The TPP leaders met recently at APEC and they feel that the fundamental rationale of the TPP has not changed.
"While we respect the new position of the new US administration, the other parties are going to continue their efforts to ratify the TPP and we are also committed to working with the other TPP partners to bring this process forward," he said.
All telcos chiong these two days... for no apparent good reasons... hmm
Congrats! These cash rich companies should make better use of their cash.
Singapore manufacturing output, seasonally adjusted month-on-month basis, output contracted 0.1 per cent.
Excluding biomedical manufacturing, output was down 1.9 per cent from September.
http://www.channelnewsasia.com/news...cturing-output-up-1-2-in-october/3317424.html
Excluding biomedical manufacturing, output was down 1.9 per cent from September.
http://www.channelnewsasia.com/news...cturing-output-up-1-2-in-october/3317424.html
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Singapore has deep pockets so recessions are of no major concern.
You are certainly not wrong - Interest in residential property remains strong even when there is an oversupply situation
http://www.todayonline.com/business/interest-residential-property-remains-strong
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On the other hand, everything looks good for the folks around me and myself on the whole. We're still making multi-million dollars annually in our businesses, living in private condominiums and landed properties, driving our Ferraris, Lambos, Porsches, Rolls Royces, Bentleys, Mercs, BMWs, and Audis, using our AMEX Centurion black cards when eating out at fine dining restaurants and shopping for branded goods with our hot wifes, girlfriends, and concubines, still playing golf in our country clubs sealing business deals on the golf course, and still have mega millions in cash in our business bank accounts to operate our businesses.
Except for the loser folks in this SBF forum eating hawker foods and living in HDBs who are struggling to make ends meet........
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What are your companies? I wanna buy your company's shares...
Malayan Banking Bhd (Maybank) faces rising problem assets in two of its key markets namely Singapore and Hong Kong http://www.theedgemarkets.com/en/node/319886
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we donated millions to help Japs in Fukushima but Abe donated millions in warships to Vietnam n Peenoise........ WTF is this??
"The adjustment in property prices is also a risk worth monitoring - banks look well capitalised and there seems little chance of a financial crisis, but a prolonged spell of falling property prices could slow growth which will impact household wealth," said Priyanka Kishore, ICAEW economic adviser and Oxford Economics lead economist.
http://www.businesstimes.com.sg/gov...dit-growth-spell-trouble-for-singapore-report
http://www.businesstimes.com.sg/gov...dit-growth-spell-trouble-for-singapore-report
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this is a good sign that sinkies are getting self reliant and smarter, instead of being ripped off by exorbitant car prices. besides, there is nothing wrong with hopping on buses and mrt with your family.
