|Singapore GDP Growth Rate Sliding Downhill|
|by Tom McGregor||Wed, Mar 19, 2014, 12:14 AM|
Singapore's economy is hitting the doldrums. Economists are lowering their expectations for higher GDP growth rates in the City-State.
According to Channel NewsAsia, "Private sector economists have become slightly less optimistic about Singapore's growth prospects, according to the latest survey by the Monetary Authority of Singapore (MAS)."
The Singaporean economy is highly dependent on foreign trade, which means that global economic prospects do not appear bright.
As reported by Channel NewsAsia, "They now expect GDP growth for 2014 to come in at 3.8 per cent, slightly lower than 3.9 per cent posted in the previous survey done three months ago. The slight downgrade reflects weaker prospects in finance and insurance, construction, wholesale and retail trade, and the accommodation and food services sectors."
Inflation in Singapore is surging higher as well.
To read the entire article from Channel NewsAsia, link here:
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