Singapore likely in recession after GDP data: analysts

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Singapore likely in recession after GDP data: analysts

Postby tankee » Mon Dec 31, 2012 11:30 pm

SINGAPORE - Singapore likely slipped into recession in the three months to December, analysts told AFP on Monday, as data showed growth in 2012 came in lower than expected.

In his New Year's message, Prime Minister Lee Hsien Loong said "growth was slower this year, at 1.2 percent", which is well off the official growth forecast of 1.5-2.5 percent.

However, CIMB Research economist Song Seng Wun said the figures for the year indicate the economy shrank 3.5 to 4.0 percent quarter on quarter in October-December, which followed a contraction of 5.9 percent in the previous three months.

Two consecutive quarters of contraction point to a technical recession.

"It's basically just the magnitude of (the recession) rather than if," he told AFP..............


http://www.channelnewsasia.com/stories/ ... 08/1/.html

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Re: Singapore likely in recession after GDP data: analysts

Postby 3Boys » Tue Jan 01, 2013 10:30 am

Slower economic growth, isn't that what people are asking for?

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Re: Singapore likely in recession after GDP data: analysts

Postby sleepy » Tue Jan 01, 2013 10:48 am

inflation will be lower ?

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Re: Singapore likely in recession after GDP data: analysts

Postby Mawar » Tue Jan 01, 2013 10:51 am

Looking at current big ticket items like housing & cars, is enough to send hand to mouth salaried folks into depression.

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Re: Singapore likely in recession after GDP data: analysts

Postby sleepy » Tue Jan 01, 2013 10:55 am

if economy slows down, market sentiment will be affected. STI will drop, COE will drop, property price will drop. So slowing economy may not be a bad thing afterall, as long job still intact.

Anyway there isn't exactly huge increment even during good times. Only inflation went up but salary stays put.

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Re: Singapore likely in recession after GDP data: analysts

Postby VemmaMom » Wed Jan 02, 2013 11:08 am

Cross fingers for the prices of cars n housing drops! :xedfingers:

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Re: Singapore likely in recession after GDP data: analysts

Postby Sun_2010 » Wed Jan 02, 2013 11:23 am

sleepy wrote:if economy slows down, market sentiment will be affected. STI will drop, COE will drop, property price will drop. So slowing economy may not be a bad thing afterall, as long job still intact.

Anyway there isn't exactly huge increment even during good times. Only inflation went up but salary stays put.


But when economy drops and MNC face lowered profits/loss,they cut costs - aka move elsewhere cheaper, reduce manpower, at best do not expand or take up new projects . So some jobs will have to take a beating. And a big drop in new openings.

As they say be careful what you wish for....

Home and car are long term items. If property market crashes , then all those who have bought homes (a vast majority i presume) will suffer. I will take option2 anytime.

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Re: Singapore likely in recession after GDP data: analysts

Postby WeiHan » Wed Jan 02, 2013 3:48 pm

3Boys wrote:Slower economic growth, isn't that what people are asking for?


Those people were asking for 3-4% growth but unfortunately, the government is not good at fine-tune controlling and has let the economy overshot to the downside to 1% growth....haiz....

I guess it is not a bad thing if the unemployment rate don't increase.

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Re: Singapore likely in recession after GDP data: analysts

Postby hoo1688 » Wed Jan 02, 2013 5:23 pm

But our food price! MRT and bus fare still pointing up! :sweat: :nailbite:

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Re: Singapore likely in recession after GDP data: analysts

Postby 3Boys » Wed Jan 02, 2013 5:37 pm

WeiHan wrote:
3Boys wrote:Slower economic growth, isn't that what people are asking for?


Those people were asking for 3-4% growth but unfortunately, the government is not good at fine-tune controlling and has let the economy overshot to the downside to 1% growth....haiz....

I guess it is not a bad thing if the unemployment rate don't increase.


Do you think it's like flying an airplane? Set on autopilot and cruise at whatever altitude you want? Tell me which g'ment gets growth forecast exactly the way it wants?

Obviously there is uncertainty in the system, which is also very dependent on external factors.

The knee jerk anti-g'ment reactions is very evident. Turn left also cannot, turn right also cannot. Fast growth cannot, slow growth cannot. :stupid:

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