17 Feb '11, 4am

[ST] Why Singapore's 2011 trade outlook is optimistic

[ST] Why Singapore's 2011 trade outlook is optimistic

SINGAPORE'S trade outlook for 2011 remained optimistic, with total trade projected to grow between eight and 10 per cent in 2011, International Enterprise (IE) Singapore said on Thursday. This is an increase over the previous forecast of six to eight per cent. Non-oil domestic export (NODX) growth was also revised upwards to between eight and 10 per cent, from the previous forecast of six to eight per cent. IE Singapore said they revised their outlook for 2011 based on several factors: 1. The International Monetary Fund revised its own 2011 outlook for the global economy to 4.4 per cent, up from its previous forecast of 4.2 per cent, on the backing of better than expected economic activity in the second half of 2010. 2. Recovering private domestic demand also played a part, with consumer spending growing 4.4 per cent in the fourth quarter of 2010, which IE Singapore said w...

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

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