BMI Revises Down 2009 Growth Forecast

BMI View: Singapore's trade figures have begun to show tentative signs of moderation and we expect this trend to continue in the coming months. However, domestic demand signals remain lacklustre as recent poor retail sales numbers illustrate. In light of this, we have lowered our projections for Singapore's GDP growth from -3.9% to -7.2% for 2009. We are still maintaining that the economy will post a mild recovery of 1.3% in 2010.

To read the full article, please choose one of the following options: