Posted on 10/13/2013 7:57:47 PM PDT by TexGrill
Singapore's economy posted 5.1 per cent on-year growth for the third quarter, said the Ministry of Trade and Industry in advanced estimates, while the Monetary Authority of Singapore has forecast continued economic expansion into 2014. SINGAPORE: Singapore's economy posted a 5.1 per cent on-year growth for the third quarter of 2013, said the Ministry of Trade and Industry in advanced estimates released on Monday.
This is compared to the 4.2 per cent recorded in the preceding quarter.
The market was expecting a 3.8-per cent growth.
On a quarter-on-quarter seasonally-adjusted annualised basis, the economy contracted by 1.0 per cent, compared to the 16.9 per cent growth in the previous quarter.
Economists on average were expecting a contraction of 4 per cent.
Looking ahead, the Monetary Authority of Singapore said in a separate statement, that it expects the economy to continue to expand for the rest of 2013 and into 2014, although some volatility in growth rates is likely.
It added that barring a significant deterioration in global demand conditions, the labour market will remain tight, and inflation could rise as firms pass on accumulated costs with the MAS Core Inflation (excluding private transport and accommodation costs) coming in at 1.8 per cent on year in August, compared to 1.6 per cent in the first seven months of the year.
(Excerpt) Read more at channelnewsasia.com ...
“Singapore economy up in Q3 with expansion into 2014 expected”
“Thank you Obama!” — I just wanted to see if I can beat the media to it.
This kind of thing really burns me. Five percent? We should be doing at least that, maybe more.
Why in DC is no one ashamed of our lack of performance?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.