Singapore Price Risks Persist as Economy Seen Entering Recession - Bloomberg

Singapore’s Economy Grew 1.2% in 2012, Prime Minister Lee Says -

bloomberg.com 30 Dec '12, 4pm

Singapore Price Risks Persist as Economy Seen Entering Recession - Bloomberg

Singapore ’s economic expansion eased in 2012 amid weak growth in advanced nations and as companies faced hiring constraints, Prime Minister Lee Hsien Loong said. Gross domestic product rose 1.2 percent in 2012, Lee said in his New Year message released in Singapore today. The growth rate Lee estimates implies a fourth-quarter GDP contraction that pushed Singapore into a technical recession, said Michael Wan, an economist at Credit Suisse Group AG. “It’s a disappointing number,” Wan said. “We’ve seen huge weakness in the manufacturing sector for two keys reasons. One is the high exchange rate, partly because of our policy to use the exchange rate to curb inflation, and the second reason is our domestic policies when it comes to foreign workers.” A government push to limit the intake of foreign labor has led to a growing shortage of workers and higher business costs, contri...

Full article: http://www.bloomberg.com/news/2012-12-30/singapore-price-...

Tweets

@LeoVeigaSanchez » 01 Jan '13, 3am
Singapore 2012 GDP Grew 1.2% as Recession Seen in Second Half - Bloomberg via @BloombergNow [link]
@nomukik » 01 Jan '13, 1am
Singapore 2012 GDP Grew 1.2% as Recession Seen in Second Half [link] via @BloombergNews
@AlanTonelson » 31 Dec '12, 9pm
Back in the non-#cliff real world, #Singapore 2012 #exports up c. twice as fast as GDP. Asian #rebalancing still MIA: [link]
@marciaholic » 31 Dec '12, 4pm
Uh “@BloombergNews: Singapore price risks persist as economy seen entering recession | [link]”
@Clearwaterfunds » 31 Dec '12, 4pm
$LVS close to crapping out in Singapore. We continue to short hand over fist. [link]
@jamesplloyd » 31 Dec '12, 12pm
Interesting to see wannabe arch-rival SingSing in (technical) recession. Anti-fun diktats will only take you so far... [link]
@keyecstasy » 31 Dec '12, 11am
I wanna establish a new bussines in there. Singapore Economy Grew 1.2% in 2012, Prime Minister Lee [link] @BloombergNews
@ArashBusiness » 31 Dec '12, 9am
Singapore’s Economy Grew 1.2% in 2012, Prime Minister Lee Says [link]
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Singapore Price Risks Persist as Economy Seen Entering Recession [link] via @BloombergNews First victim of CURRENCY WARS...
@jlaich » 31 Dec '12, 3am
Singapore in technical recession? [link]
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Inflation and growth concerns hit Singapore. [link] via @BloombergNews
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