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Spores GDP shrinks worse than expected!

johnny333

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Economy not doing so well, so will there be early elections :confused:



http://www.cnbc.com/id/34681745



Singapore GDP Shrinks By Wider Than Expected Margin
Published: Sunday, 3 Jan 2010 | 8:26 PM ET
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By: Reuters

Singapore's economy shrank a bigger-than-expected 6.8 percent on a seasonally adjusted and
annualized basis in the fourth quarter, raising expectations the central bank may not start tightening policy until later in the year.


Economists have been expecting the central bank to shift towards tighter policy at its next meeting in April by allowing a gradual appreciation of the Singapore dollar, but a shaky
recovery from recession could mean policy will be on hold.

"The numbers are still patchy, which is a reminder to policymakers that it is not going to be plain sailing... Monetary policy may still have to be maintained until we see signs of a stronger pickup," said Song Seng Wun, economist at CIMB in Singapore.

Analysts in a Reuters poll had predicted gross domestic product to fall 0.8 percent in the December quarter after rising 14.9 percent in the previous quarter.

The Singapore dollar, the central bank's main policy tool, traded at 1.4042/56 per U.S. dollar, slightly weaker compared to levels of 1.4020/50 just before the economic data was released.

GDP in the October-December period grew 3.5 percent from a year earlier, the second quarterly growth after three quarters of annual contraction. Growth was smaller than expected as
manufacturing weakened, the advance data showed.

On a seasonally adjusted and annualised basis, manufacturing shrank 38.4 percent from the previous quarter, while construction grew 4.3 percent and service industries expanded 7.2 percent.

"What is very encouraging in the fourth quarter data is the sharp turnaround in services. This basically bodes well for our outlook for Singapore this year," said Selena Ling, head of treasury research at OCBC in Singapore.

GDP fell 2.1 percent in 2009, largely in line with economists' forecasts. The government expects growth for this year of 3 to 5 percent.
 
I wish everyone in here will stop using their ass to think and think with their brains instead. The elections is not due until 2011. Why in the world of F would PAP want to call an early end to their rule for no good reason. U think they are stupid. More so the fact that we are still having economic troubles.

The PAP's 1 and biggest selling point to the nation is that they can F up everything but they bring in the $$$. The country is still not doing very well economically speaking. Why in the world of F would they want to call for an election now where they have a good chance of losing even more seats. Please use your brains. Unless the economy is doing remarkably well or there is some form of guarantee that the PAP will come back into power again, they will not be so stupid as to give up their power for no good reason.

If everyone stops using their asses to think and start using their brains a little, approach things more objectively, use that 2 years to help the opposition build some creditibility. Maybe, just maybe they might stand a chance in the next few elections to gather more seats in Parliament
 
@Char_Azn
Not if the voting outcome's already rigged for PAP to win. That way, they can claim having the mandate of the "people" to rule for the next 5 years, in spite of current economic realities. Should things in the near future turn so bad that we somehow revolt, they'll have the justification to quell any uprising violently, using any means at their disposal as "newly elected" incumbent government against destabilising elements. ;)

This is a dog-and-pony show mainly for the average angmos to believe that Spore's not run by a dictatorship.
 
Again another joker who thinks with his ass. OK I'll humor U a bit. Let's assume that the vote is rigged for PAP to win, that would mean that they will win every freaking election, regardless. If that's the case, why in the world of F would they want to create more work for themselves, they could simply wait until 2011 before holding the elections. According to U, they are going to win anyway. In which case, no matter how U look at it, it makes no sense whatsoever for them to conduct an early election unless they can read the future and know that a disaster is coming in 2011
 
Yet another dumbass still having a hangover. Please lah, wake up your farking idea & dun resort to ad hominen.

Char_Azn said:
In which case, no matter how U look at it, it makes no sense whatsoever for them to conduct an early election unless they can read the future and know that a disaster is coming in 2011

This is priceless. There's nothing to say PAP can't prepare NOW for future posterity, right?
If & should disaster happen DURING that period (2011), the last thing PAP wants to think about is a f--king election when there'll be more desperate scampering by elites to sappu residual resources in Spore. The dog-and-pony show that PAP calls Election COSTS money. Money that they may not want to spend when they'll have much less of post-2010, judging from our shrinking economy NOW.
 
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