12-08-2013, 10:35 AM
GDP up 3.8% on-year, but export growth outlook lowered
SINGAPORE — The Republic lowered its forecast for export growth this year as a slowing expansion in China and an uneven United States recovery crimp demand for the nation’s goods.
Non-oil domestic exports may be unchanged or rise 1 percent this year, compared with a previous forecast of 2 to 4 per cent, the Ministry of Trade and Industry said today.
Gross domestic product rose an annualised 15.5 per cent in the three months through June from the previous quarter, when it grew a revised 1.7 per cent, the ministry said separately.
South-east Asian nations from Malaysia to Indonesia have seen exports slump as growth slows in China, and the US, Europe and Japan struggle to sustain economic recoveries. Singapore’s exports in June extended the longest run of declines since the global financial crisis as electronics dropped for an 11th month.
http://www.todayonline.com/business/gdp-...ok-lowered
SINGAPORE — The Republic lowered its forecast for export growth this year as a slowing expansion in China and an uneven United States recovery crimp demand for the nation’s goods.
Non-oil domestic exports may be unchanged or rise 1 percent this year, compared with a previous forecast of 2 to 4 per cent, the Ministry of Trade and Industry said today.
Gross domestic product rose an annualised 15.5 per cent in the three months through June from the previous quarter, when it grew a revised 1.7 per cent, the ministry said separately.
South-east Asian nations from Malaysia to Indonesia have seen exports slump as growth slows in China, and the US, Europe and Japan struggle to sustain economic recoveries. Singapore’s exports in June extended the longest run of declines since the global financial crisis as electronics dropped for an 11th month.
http://www.todayonline.com/business/gdp-...ok-lowered