SINGAPORE - Singapore's economy grew slightly less than initially estimated in the fourth quarter from a year ago, official data showed on Monday (Feb 13), and the government kept its forecast for annual growth to come in at 0.5 per cent - 2.5 per cent this year. Gross domestic product (GDP) grew 2.1 per cent year-on-year in the fourth quarter,...
SINGAPORE - Singapore's economy grew slightly less than initially estimated in the fourth quarter from a year ago, official data showed on Monday , and the government kept its forecast for annual growth to come in at 0.5 per cent - 2.5 per cent this year.
"Growth outlook of the US and Eurozone economies remains weak amidst tighter financial conditions, which will weigh on consumption and investment spending in these economies," he added.Analysts said that some services industries will fare better this year amid China's reopening, while manufacturing, especially electronics, is likely to weigh on growth in the short-term.
"One of the important sources of inflation that we will be monitoring and analysing quite carefully through this year is related to the labour market conditions both overseas in our key export markets, as well as domestically," Robinson said. "Looks like the window remains open for a tightening if core inflation remains very sticky on the downside," she added.
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