according to the median forecast in the monetary authority of singapore's december survey of professional forecasters, singapore's economy is expected to grow by 3% in 2012.
the most likely outcome as reflected by the mean probability forecast is for growth of between 3% to 3.9% which is much lower from the september survey range of between 5% to 5.9%.
growth in the manufacturing and financial services sector is expected to come down sharply to 3.4% (from an expected 8.5% this year) and 4.2% (from an expected 9.4% this year) in 2012 respectively.
for hotels and restaurants, growth is expected to be around 4%, down from 5.9% in 2011.
the one silver lining in the survey is headline cpi inflation is expected to be lower at 3.1% from the forecast of 5.1% for this year.
my comments:
yes, there are dark clouds ......
according to the median forecast in the monetary authority of singapore's december survey of professional forecasters, singapore's economy is expected to grow by 3% in 2012.
the most likely outcome as reflected by the mean probability forecast is for growth of between 3% to 3.9% which is much lower from the september survey range of between 5% to 5.9%.
growth in the manufacturing and financial services sector is expected to come down sharply to 3.4% (from an expected 8.5% this year) and 4.2% (from an expected 9.4% this year) in 2012 respectively.
for hotels and restaurants, growth is expected to be around 4%, down from 5.9% in 2011.
the one silver lining in the survey is headline cpi inflation is expected to be lower at 3.1% from the forecast of 5.1% for this year.
my comments:
yes, there are dark clouds ......
