04 Apr '11, 1am

Economists are lowering their Q1 forecasts for Singapore's economy, citing natural disasters & higher oil prices

Economists are lowering their Q1 forecasts for Singapore's economy, citing natural disasters & higher oil prices

Economists are lowering their first-quarter forecast for the Singapore economy, citing political crisis in the Arab world and surging oil prices as key reasons. -- ST PHOTO: ALPHONSUS CHERN ECONOMISTS are lowering their first-quarter forecasts for the Singapore economy after a tumultuous start to the year. The political crisis in the Arab world, surging oil prices, inflation worries and Japan's earthquake and tsunami are key reasons they cited for expecting a dimmer set of first-quarter economic figures. But even with slower growth rates for now, the economy is still healthy enough to meet the Government's full-year forecast of 4 per cent to 6 per cent growth, said economists. The Ministry of Trade and Industry is expected to release its advance estimates for Singapore's economic performance in January and February sometime in the next fortnight. Ahead of that, Bank of Ame...

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

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