27 Oct '11, 9pm

Outlook murky despite euro breakthrough

SINGAPORE - Even as European leaders yesterday cobbled together a deal to help the continent out of its two-year debt crisis, the outlook for the rest of the world - including Singapore - remains murky. Yesterday, as news filtered through of the breakthrough at the European Union summit - which sent global stock markets soaring - the Monetary Authority of Singapore (MAS) was sharing its prognosis for the Singapore economy at a press briefing. According to the MAS, which released its twice-yearly macro-economic review, economic growth could stall over the next few quarters, followed by a modest pickup in the second half of next year. There is also the likelihood that the Republic's economic growth next year could be below the potential growth rate of between 3 and 5 per cent. Consequently, growth in wages and jobs will also weaken. The MAS cited the lingering uncertainty in...

Full article: http://www.todayonline.com/Singapore/EDC111028-0000200/Ou...

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