08 Jun '11, 9pm

S'pore economy expected to grow 6.2% this year: SINGAPORE - Private sector economists surveyed by the Monetary A...

SINGAPORE - Private sector economists surveyed by the Monetary Authority of Singapore (MAS) expect Singapore's economy to expand by 6.2 per cent this year, an upgrade from the 5.7 per cent median forecast in a previous survey released in March. This followed a stronger than expected 8.3 per cent economic growth in the first three months of the year. But experts said the revision is based on past results and it does not stop Singapore from catching a cold from challenges that lie in the external market. "I think you could say that it looks pretty optimistic," said Mr David Cohen, director of Asian Economic Forecasting at Action Economics. "But Singapore, as always is dependent on global demand - so anything that would threaten the global recovery would be a concern to Singapore," he added. Foreshadowing a weaker second quarter, private sector economists have downgraded thei...

Full article: http://www.todayonline.com/Business/EDC110609-0000360/Spo...

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