Singapore likely in recession after GDP data: analysts
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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/afp_asiapacific_business/view/1245308/1/.html -
Slower economic growth, isn’t that what people are asking for?
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inflation will be lower ?
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Looking at current big ticket items like housing & cars, is enough to send hand to mouth salaried folks into depression.
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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. -
Cross fingers for the prices of cars n housing drops! :xedfingers:
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sleepy:
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.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.
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. -
3Boys:
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. -
But our food price! MRT and bus fare still pointing up!
:nailbite: -
WeiHan:
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?3Boys:
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.
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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