Global economy stumbles, but Singapore uptick still seen

Export demand is less likely a problem for growth than domestic labour market tightness and rising US interest rates


THE global economy - which Singapore now relies on more heavily to support growth given domestic restructuring's drag - has been handed a negative report card in a week heavy with economic data: Japan fell unexpectedly into recession, the eurozone's recovery stalled and China's factory output shrank.

These rising concerns over global growth will feed into Singapore's own official growth forecast for 2015 - to be announced next Tuesday along with third-quarter gross domestic product (GDP) figures.

But private-sector economists still expect Singapore to benefit from improved external demand for exports in the coming quarters. Export demand is less likely to pose a problem for growth than...


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