Gee 1st Gear January 4, 2013 Share January 4, 2013 actually recession was expected? oh darn it... 08:59 AM Jan 02, 2013 SINGAPORE - The Republic's economy expanded more than economists estimated last quarter, averting a recession even after the central bank refrained from monetary stimulus as it sought to contain elevated inflation. Gross domestic product rose an annualised 1.8 per cent in the three months to Dec 31 from the previous period, when it contracted a revised 6.3 per cent, the Trade Ministry said in a statement this morning. The median of 11 estimates in a Bloomberg News survey was for a 1.6 per cent expansion. GDP increased 1.1 per cent in the fourth quarter from a year earlier, the Trade Ministry said today, compared with the median estimate for a 1.4 per cent gain in the Bloomberg survey. For 2012, the economy grew 1.2 per cent, less than a quarter of 2011's pace. The World Bank last month raised its outlook for emerging nations in East Asia, citing a recovery in China. The expansion in Singapore, among the first in South-east Asia to report GDP numbers for last quarter, signals the region may follow in reporting resilient growth as the global recovery quickens. "If there's any plus, we can say, one year down the road, and despite the fiscal cliff, the United States economy is in a slightly more stable growth trajectory," said CIMB Research economist Song Seng Wun. "The Chinese economy looks to be in a slightly firmer growth track." Aside from Europe's sovereign-debt crisis, Asian nations also face threats to expansion from the impact of more than US$600 billion (S$734 billion) of spending cuts and tax increases slated to take effect in the US this year. The Senate passed a bipartisan budget deal yesterday to avert some of the measures, which has yet to be accepted by the House of Representatives. Prime Minister Lee Hsien Loong on Dec 31 reiterated a forecast for the economy to grow 1 to 3 per cent in 2013. The island is in a "new phase" of growth where it must adjust to a slower expansion than it has become accustomed to, he said. GDP increased an average of about 6.3 per cent in the decade through 2011. Manufacturing shrank 1.5 per cent from a year earlier in the three months ended Dec 31. But services provided some positive news, rising 1.5 per cent from a year earlier, while construction expanded 5.9 per cent. BLOOMBERG ANALYST REACTIONS It's a pleasant surprise we managed to avoid a recession. We expect Singapore to grow 2.1 per cent in 2013. Even though we had originally expected Singapore to go into recession in Q4, we thought it would have been short-lived. - Joey Chew, Barclays We escaped recession by the skin of our teeth because Q2, Q3 numbers were revised lower. On the positive side, there is a rebound in momentum. - Selena Ling, OCBC The Q4 numbers were a surprise partly because of what the prime minister said. We thought there would be a technical recession. - Michael Wan, Credit Suisse ↡ Advertisement Link to post Share on other sites More sharing options...
Mustank Hypersonic January 4, 2013 Share January 4, 2013 simi recession?!?!?! coe 100k, ec 2M, simi rescession?!?!? school bus kee kay liao, bus fare mah ai kee kay liao Link to post Share on other sites More sharing options...
Kangadrool Supersonic January 4, 2013 Share January 4, 2013 They cannot declare recession. Otherwise, bonus kee chia liao. Link to post Share on other sites More sharing options...
Roh96 6th Gear January 4, 2013 Share January 4, 2013 To those who lose their jobs in the last quarter, this is recession to them. To those who still rushing to buy condo and new car, no recession at all. Link to post Share on other sites More sharing options...
Roh96 6th Gear January 4, 2013 Share January 4, 2013 They keep revising and adjusting the GDP number, i really wonder if the number is true. Anyway 1.2% growth is pathetic lah. Good luck to those who still chiong for condo and new car. Link to post Share on other sites More sharing options...
Oblong 3rd Gear January 4, 2013 Share January 4, 2013 Reagan has this relevant funny quote: Recession is when your neighbor loses his job. Depression is when you lose yours. And recovery is when Jimmy Carter loses his. Jokes aside, sustainability and organic growth is key lah. Use steroids or performance enhancement drugs, at the end, the body suffers. Link to post Share on other sites More sharing options...
Mustank Hypersonic January 4, 2013 Share January 4, 2013 Reagan has this relevant funny quote: Recession is when your neighbor loses his job. Depression is when you lose yours. And recovery is when Jimmy Carter loses his. Jokes aside, sustainability and organic growth is key lah. Use steroids or performance enhancement drugs, at the end, the body suffers. Link to post Share on other sites More sharing options...
Celicar Turbocharged January 4, 2013 Share January 4, 2013 They keep revising and adjusting the GDP number, i really wonder if the number is true. Anyway 1.2% growth is pathetic lah. Good luck to those who still chiong for condo and new car. Massage massage.... Link to post Share on other sites More sharing options...
PorkChong Clutched January 4, 2013 Share January 4, 2013 seems like another round of 97 is coming. can't wait for it to come. Link to post Share on other sites More sharing options...
Ben5266 Supercharged January 4, 2013 Share January 4, 2013 simi recession?!?!?! coe 100k, ec 2M, simi rescession?!?!? school bus kee kay liao, bus fare mah ai kee kay liao ... due to the high housing demand, the developer actually accelerate the consturction of housing projects and leads to 5.9% expansion. money gets lock in property.... less money for other industries.... looks good for last year.... 2013, need to find new income source. Link to post Share on other sites More sharing options...
RadX Moderator January 4, 2013 Share January 4, 2013 Forme recession....no change car [bigcry] [bigcry] [bigcry] Link to post Share on other sites More sharing options...
Scion Turbocharged January 4, 2013 Share January 4, 2013 this can only mean one thing... more foreigners pumped into this little red dot as each person represents an economic figure this only happens in a country where GDP is focused on population rather than the overall productivity Link to post Share on other sites More sharing options...
Felipe 3rd Gear January 4, 2013 Share January 4, 2013 Pattern all points to one segment of the population largely benefiting from the gdp increases. Link to post Share on other sites More sharing options...
Kyrios Turbocharged January 4, 2013 Share January 4, 2013 All these are just figures massaging..like one of the bros said..1.2% is almost nothing at all. Anybody feels EDB leadership at fault here? They didn Link to post Share on other sites More sharing options...
Tjkbeluga 5th Gear January 4, 2013 Share January 4, 2013 All these are just figures massaging..like one of the bros said..1.2% is almost nothing at all. Anybody feels EDB leadership at fault here? They didn Link to post Share on other sites More sharing options...
Oblong 3rd Gear January 4, 2013 Share January 4, 2013 (edited) i would remember there was a focus on harddisk manufacturing (seagate was big in here previously), hence the data storage institute DSI from A*star. There was also a huge capital investment for wafer fab previously, trying to beef up chartered semicon to compete with TSMC or UMC. Harddisk is giving way to flash while our wafer fab was sold to global foundries. The crystal ball gazers for tech (electronics) could have made the wrong bets or caught kooning, when there is a shift of focus . The following are the suppliers for iphone components, spot / extrapolate the brands/ tech u can ride on in the shift. http://www.isuppli.com/Teardowns/News/page...wn-Reveals.aspx But it is not easy to make money, trying to sleep with apple. Tim cook keeps a tight grip on scm and squeeze as well as marl.b.o.r.o Edited January 4, 2013 by Oblong Link to post Share on other sites More sharing options...
Gee 1st Gear January 4, 2013 Author Share January 4, 2013 meaning technically we are actually already taking a dip instead of floating about.. Link to post Share on other sites More sharing options...
Duckduck Turbocharged January 4, 2013 Share January 4, 2013 dont worry property forever go up... just buy buy buy ↡ Advertisement Link to post Share on other sites More sharing options...
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