17 Feb '11, 1am

Singapore's economy expected to grow 4-6% in 2011, but inflation forecast revised up to 3-4%, from 2-3%: MTI

THE Ministry of Trade and Industry (MTI) announced on Thursday that it expects Singapore's economy to grow between 4 to 6 per cent in 2011, with the continuing recovery of the global economy. But accompanying another year of strong growth, the MTI warned that its inflation forecast for the year was revised to 3 to 4 per cent, up from 2 to 3 per cent. It added that inflation was expected to rise further to 5 to 6 per cent in the first few months and expects it to moderate in the second half. All this comes on the back of a stellar 14.5 per cent GDP growth for the whole of 2010. Last year's growth was largely driven by the manufacturing sector, which rebounded by 29.7 per cent in 2010, following a 4.2 per cent contraction in 2009. It was led by the biomedical manufacturing cluster, which saw a strong recovery in pharmaceutical output. Read also: Singapore trade expands 21% i...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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