44618
Singapore Growth Low
World Economy

Singapore Growth Low

Singapore’s gross domestic product growth for 2016 should average 1.6%, after expanding by 2% in 2015, Moody’s Investors Service said on Wednesday, BusinessNews reported. The credit rating agency said that its forecast is at the lower end of the Singapore government’s estimated growth range of 1 to 3%. “Growth is expected to be significantly slower than it was between 2000 and 2010, when it averaged 6.2% annually. A slowdown in external demand will remain the key drag. Industries with high exposure to global conditions, such as engineering—including marine and offshore engineering—and oil and gas, will be most affected,” Moody’s said. It said that trade-dependent Singapore is especially vulnerable to the current lackluster global trade conditions. “In particular, Singapore’s close trade and financial linkages with China (Aa3 negative), imply that the slowdown in China presents significant challenges for Singapore, particularly given the island state’s role as an international financial center in the Asia-Pacific region.”

Short URL : http://goo.gl/xKP7lh
  1. http://goo.gl/H9YVKc
  • http://goo.gl/H2g524
  • http://goo.gl/no8vQ3
  • http://goo.gl/ZWqD5h
  • http://goo.gl/Ls8Ya1

You can also read ...

Shares in German and other European car manufacturers fell on Friday after Trump threatened  to impose a 20% tariff on cars imported from the bloc.
An industrial powerhouse built on massive exports and a...
Ireland Facing Agri-Food Crisis
The latest dry spell has threatened another fodder emergency...
Companies like Toyota need AI talent to develop self-driving technologies, but the competition is intense with an estimated shortfall of 700,000 engineers.
China and the US are scrambling to secure one of the world's...
Airbnb Exodus Spawns Business Boom in Japan
As Airbnb home-sharers in Japan quit the market in droves,...
Duterte Says Economy in Doldrums
Philippine economic activity is stagnating in the provinces...
Thai SMEs Can Cash In on China’s Vast Online Market
China offers great opportunities to Thai small and medium-...
Escalation of protectionist measures could trigger a fresh global economic downturn.
Policymakers can maintain the current economic upswing beyond...
The symposium emphasized the importance of capacity building and skills development as an integral component of the digital agenda.
The 2018 International Telecommunication Union’s Global ICT...

Trending

Googleplus