Singapore economy falls further than expected:

Singapore’s actual figures rather than mere survey or analysts forecast data released today show manufacturing down worse than expected 8.2% on year 2008 to 2009, but down a much worse than expected whopping 38.4% from Q3 2009 to Q4 2009. Analysts try their best to play down the impact as they say two new large casinos may help the islands economy:

http://www.bloombergutv.com/news/latest-world-business-news/41551/singapore-gdp-shrinks-on-manufacturing-.html
http://www.businessweek.com/news/2010-01-03/singapore-economy-shrinks-as-manufacturing-falters-update2-.html
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1026741/1/.html

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LOS ANGELES (MarketWatch) — Singapore’s preliminary estimate for the economy during the fourth quarter showed a much sharper quarter-on-quarter fall than had been expected, according to reported figures Monday. The city-state’s economy shrank by an annualized 6.8% from the previous quarter, compared to analysts’ average expected drop of 4.6%, according to Dow Jones Newswires. On a year-on-year basis, the economy grew 3.5%. For 2010, the Singaporean government said it saw GDP rising 3% to 5%, according to a forecast cited by Dow Jones Newswires.

http://www.marketwatch.com/story/singapores-economy-shrinks-annualized-68-in-q4-2010-01-03

- LearnFromMistakes

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