22 Feb '13, 2am

Singapore’s economic outlook cautious despite Q4 recovery: SINGAPORE, Feb 22 — The outlook for Singapore’s eco...

SINGAPORE, Feb 22 — The outlook for Singapore’s economy is “cautiously positive”, the government said today, reiterating its growth forecast of 1-3 per cent for this year after fourth-quarter and 2012 gross domestic product data came in slightly better than expected. Singapore’s trade-dependent economy grew 1.3 per cent in 2012, a touch above the advance estimate of 1.2 per cent, the Ministry of Trade and Industry said in a statement. In 2011, the economy grew 5.2 per cent. “The global macroeconomic conditions have stabilised in recent months against the backdrop of improved financial market conditions. Nevertheless, global economic growth is likely to remain subdued,” the ministry said in a statement. “Against this macroeconomic backdrop, the outlook for the Singapore economy remains cautiously positive.” Ow Foong Pheng, permanent secretary at the ministry, underscored th...

Full article: http://www.themalaysianinsider.com/business/article/singa...

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