30 Apr '13, 4am

Singapore Faces Choppy Recovery: Central Bank: Singapore's economy should see a modest rebound this year, alth...

Singapore's economy should see a modest rebound this year, although uncertainty regarding the outlook for global growth means the recovery could be choppy, the country's central bank said in a report published on Tuesday. The Monetary Authority of Singapore (MAS) reiterated its outlook for the Singapore economy to grow 1-3 percent this year, supported by consumption and a pick-up in overseas demand for Singapore's exports. In its semi-annual economic review, the central bank added that several risks remained for the economy, which contracted 1.4 percent in the first quarter from the final quarter of last year. "Critically, the expected recovery is contingent on relatively sanguine conditions in the advanced economies," the MAS said. "This is not a foregone conclusion, as a severe negative shock in the developed countries would quickly reverberate through the global trade a...

Full article: http://www.cnbc.com/id/100687136

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