Singapore expects growth to wane
By Alex Kennedy |
August 11, 2010, Wednesday
|
Print Edition
Print Edition
SINGAPORE said it expects economic growth to wane after a record second quarter as export demand from the United States and Europe slows.
Gross domestic product for April through June grew 18.8 percent from a year earlier, slightly less than the 19.3 percent growth initially announced last month, the Trade and Industry Ministry said yesterday. The growth was the fastest since the government began releasing quarterly GDP figures in 1975.
The ministry maintained its forecast for the Southeast Asian city-state's economy to grow between 13 percent and 15 percent this year.
"The weakness in the US labor and housing markets, combined with a fall in consumer confidence will affect household spending," it said. "Recovery in the EU is expected to remain sluggish."
Gross domestic product for April through June grew 18.8 percent from a year earlier, slightly less than the 19.3 percent growth initially announced last month, the Trade and Industry Ministry said yesterday. The growth was the fastest since the government began releasing quarterly GDP figures in 1975.
The ministry maintained its forecast for the Southeast Asian city-state's economy to grow between 13 percent and 15 percent this year.
"The weakness in the US labor and housing markets, combined with a fall in consumer confidence will affect household spending," it said. "Recovery in the EU is expected to remain sluggish."
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
