14 Dec '11, 12pm

Manufacturing and financial services sectors to see slower growth next year: MAS

Manufacturing and financial services sectors to see slower growth next year: MAS

SINGAPORE : A survey by the Monetary Authority of Singapore (MAS) indicates that growth will be significantly slower for manufacturing and financial services in 2012. Private sector economists polled also expect sluggish growth in the hotels and restaurants sector. The survey conducted last month expect growth in the financial services sector to hover around 4.2 per cent for 2012, lower than the 9.4 per cent for this year. For hotels and restaurants, growth is predicted to be around 4 per cent, down from 5.9 per cent this year. The forecast for manufacturing is 3.4 per cent, down from 8.5 per cent this year. Amid the forecasts of slower growth, unions are preparing workers for the bumpy road ahead. Francis Lim, President, United Workers of Electronic and Electrical Industries, said: "For Singapore workers, the only way now at this moment is for the union to work with e2i a...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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