Thursday August 28, 2014

subscription options


Print Edition»

  • Includes free
    digital edition
  • Digital Edition»

  • Print format with
    enhanced features!
  • QUESTION OF THE WEEK

    • What do you consider to be the 2013 Story of the Year?
    • B.C. election
    • 36%
    • TRU law school
    • 4%
    • Proposed Ajax mine
    • 43%
    • Jack Shippobotham death
    • 3%
    • Starving horses seized
    • 11%
    • Red Lake cold case
    • 3%
    • Total Votes: 1070





    Home »  News »  Business

    Singapore cuts 2012 growth forecast on weak global demand, sees anemic expansion in 2013


    The financial skyline of Singapore is seen behind a ship anchored along the shipping channel off the waters of Singapore, on April 18, 2012. THE CANADIAN PRESS/AP, Wong Maye-E

    SINGAPORE - Singapore cut its growth forecast for this year as a weak global economy hits the island's mainstay manufacturing industries and warned of an anemic expansion in 2013.

    The Ministry of Trade and Industry said Friday it cut its 2012 growth forecast to 1.5 per cent from 2.5 per cent after the economy barely grew in the third quarter.

    It said the global economy will remain sluggish next year and Singapore will grow between 1 per cent and 3 per cent.

    Singapore, which relies on manufacturing, casinos and financial services, posted a 0.3 per cent expansion in gross domestic product in the third quarter compared with a year earlier.

    Quarter to quarter, the economy shrank an annualized 5.9 per cent.

    The ministry blamed a contraction in manufacturing due to weak overseas demand.


    Comments


    NOTE: To post a comment in the new commenting system you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Yahoo, OpenID. You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

    The Kamloops Daily News welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

    blog comments powered by Disqus



    Sitemap / RSS   Glacier Community Media: www.glaciermedia.ca    © Copyright 2014 Glacier Community Media | User Agreement & Privacy Policy

    LOG IN



    Lost your password?