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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Government Education Search Search: Singapore lowers economic growth forecast to —2.0% Channel NewsAsia - 31 minutes ago SINGAPORE: The Singapore economy is expected to grow between —2.0 per cent and 1.0 per cent in 2009. The forecast by the Trade and Industry Ministry (MTI) is lower than the —1.0 per cent to 2.0 per cent range forecast in November 2008. The weaker prognosis for the Singapore economy in 2009 is based on the sharp contraction seen in the fourth quarter of 2008. Advance estimates show that Singpore’s gross domestic product (GDP) for 2008 should come in at 1.5% compared with 7.7 per cent in 2007. This figure is lower than MTI’s forecast of around 2.5 per cent in November 2008 and is attributed to a fourth quarter contraction of 2.6 per cent in real terms over the same period in 2007. This follows a decline of 0.3 per cent in the preceding quarter. On a seasonally adjusted, annualised quarter—on—quarter basis, MTI said real GDP fell by 12.5 per cent, compared to a decline of 5.4 per cent in the third quarter of 2008. —CNA/sf Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Singapore Singapore lowers economic growth forecast to —2.0%Channel NewsAsia - 34 minutes ago Singapore says economy to shrink 1-2 pct in 2009Reuters - 1 hour 1 minute ago Man nabbed for robbing at least 10 convenience storesChannel NewsAsia - Friday, January 2 NYP introduces life—like child mannequins to train nursing studentsChannel NewsAsia - Friday, January 2 Singapore Flyer moving again but remains closed to publicChannel NewsAsia - Friday, January 2 Enlarge Photo Singapore lowers economic growth forecast to —2.0% Most Popular – Singapore Viewed NASA describes final moments of Columbia tragedy Actress Jennifer Aniston appears naked in GQ magazine Japanese tourist spends 3 months in Mexico City airport Hamas defiant as Israel rejects Gaza truce World stocks end calamitous 2008, eye recovery View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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