Pee Ape Pee claimed Economic Growth 2.1%

[PEE_APE_PEE]

Watch my finger message to Pee Ape Pee!

http://www.todayonline.com/singapore/singapores-gdp-grew-2-fourth-quarter-2015


Singapore economy grows 2.1% in 2015
Singapore economy grows 2.1% in 2015
Office workers arrive for work in the central business district of Singapore. Bloomberg file photo
Weakest annual growth since global financial crisis in 2009, despite strong Q4 showing

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By
Hardasmalani Rumi
[email protected]
Published: 8:00 AM, January 4, 2016
Updated: 12:10 AM, January 5, 2016
(Page 1 of 2) - NEXT PAGE | SINGLE PAGE

SINGAPORE — Despite a strong fourth-quarter showing, Singapore’s economy grew last year at the weakest pace since the global financial crisis, based on advance estimates released today (Jan 4) by the Ministry of Trade and Industry (MTI).

Year-on-year, the economy grew by 2 per cent between October and December, compared to 1.8 per cent in the previous quarter. On a seasonally adjusted annualised basis, it expanded by 5.7 per cent quarter on quarter — well above the 1.7 per cent growth in the preceding quarter and the median forecast of 1 per cent growth in a Bloomberg survey.

For the whole of 2015, gross domestic product (GDP) grew by 2.1 per cent, slowing from 2.9 per cent in 2014. This is the weakest annual growth since 2009, when the economy was hit by the global financial crisis and shrank 0.6 per cent. MTI had earlier forecast full-year GDP to grow by “close to 2 per cent”.

While manufacturing remained in the doldrums, economic growth in the fourth quarter of last year was supported by public-sector construction activities, and the wholesale and retail trade as well as the finance and insurance sectors.

With no signs of external demand picking up yet, economists, however, were cautious about the outlook for the coming year despite the better-than-expected fourth quarter performance. MTI had previously tipped the economy to grow between 1 and 3 per cent this year.
Barclays senior regional economist Leong Wai Ho said: “The United States (economy) is strong but it is offset by China’s growing weakness, precipitated by a weaker ability to import - thanks to the weaker Chinese yuan.”

DBS senior economist Mr Irvin Seah pointed out the risks of potential capital flight that could result from further US rate hikes and fears of further economic slowdown in China. “Growth outlook in the next six to nine months will remain tepid before an improvement in the later part of 2016,” he added.

Still, Ms Selena Ling, head of treasury research & strategy at OCBC Bank, said the latest data showed that Singapore’s economic growth has stabilised since the third quarter of last year, and this will be the trend in the first six months of this year.

MTI said the manufacturing sector contracted in the fourth quarter of last year by 6 per cent on a year-on-year, weighed down by a decline in the output of the electronics, transport engineering and precision engineering clusters.

The economists noted that the 4.8 per cent contraction in manufacturing for the whole of 2015 was the worst performance since 2001.

UOB economist Francis Tan said: “The dovish central bank actions around the world and the global disinflationary trend had resulted in a decline in Singapore’s export competitiveness, as well as the importation of global deflation onto its shores… Although Singapore’s manufacturing sector is not out of the doldrums yet, we remain optimistic that there could be some pick-up in manufacturing growth in 2016.”

 

[aerobwala]

Singapore still got manufacturing ? What do they produce ?

 

[frenchbriefs]

what singapore needs is a good and long recession,this will show that PAP are not the economic wizards they wish to portray,and hopefully the fts get frustrated over time and start jumping ship.all the steriods we pumped over the years is going to come bleeding out the ass.

 

[aerobwala]

I need another double circuit breaker in Shanghai and Shenzhen Stock Exchange today to complete the picture.

 

[yahoo55]

Exports have been declining steadily, retail, finance and insurance sectors will also be declining with the poor economic environment. About the only thing holding the Sinkie economy up from sinking into recession is the construction boom. The construction boom is funded in two sources, one is public money and the other is the massive private debt from households and companies. In other words, PAP's so called "economic growth" is from debt and taxes, not from export income. This construction boom will not last.

Sinkieland already has very high household and corporate debts, and interest rates are rising in tandem with the Fed rate hike. Sinkie loan growth has already slowed down drastically, and Sinkie banks are now facing with high non-performing loans (NPL) and weak asset quality. Banks have been retrenching staff to cut costs. The STI has dropped 14.3% last year and probably drop even more this year.

 

[mojito]

Restaurants are packed. All is well. Some forummers living in their own world ya?

 

[sgp_blackout]

Restaurants are packed. All is well. Some forummers living in their own world ya?

New Year still very QUIET in town no body spending.

 

[hsienloong]

Watch my finger message to Pee Ape Pee!

http://www.todayonline.com/singapore/singapores-gdp-grew-2-fourth-quarter-2015 Singapore economy grows 2.1% in 2015 Singapore economy grows 2.1% in 2015 Office workers arrive for work in the central business district of Singapore. Bloomberg file photo Weakest annual growth since global financial crisis in 2009, despite strong Q4 showing mail print View all comments [Pin It] Tweet By Hardasmalani Rumi [email protected] Published: 8:00 AM, January 4, 2016 Updated: 12:10 AM, January 5, 2016 (Page 1 of 2) - NEXT PAGE | SINGLE PAGE SINGAPORE — Despite a strong fourth-quarter showing, Singapore’s economy grew last year at the weakest pace since the global financial crisis, based on advance estimates released today (Jan 4) by the Ministry of Trade and Industry (MTI). Year-on-year, the economy grew by 2 per cent between October and December, compared to 1.8 per cent in the previous quarter. On a seasonally adjusted annualised basis, it expanded by 5.7 per cent quarter on quarter — well above the 1.7 per cent growth in the preceding quarter and the median forecast of 1 per cent growth in a Bloomberg survey. For the whole of 2015, gross domestic product (GDP) grew by 2.1 per cent, slowing from 2.9 per cent in 2014. This is the weakest annual growth since 2009, when the economy was hit by the global financial crisis and shrank 0.6 per cent. MTI had earlier forecast full-year GDP to grow by “close to 2 per cent”. While manufacturing remained in the doldrums, economic growth in the fourth quarter of last year was supported by public-sector construction activities, and the wholesale and retail trade as well as the finance and insurance sectors. With no signs of external demand picking up yet, economists, however, were cautious about the outlook for the coming year despite the better-than-expected fourth quarter performance. MTI had previously tipped the economy to grow between 1 and 3 per cent this year. Barclays senior regional economist Leong Wai Ho said: “The United States (economy) is strong but it is offset by China’s growing weakness, precipitated by a weaker ability to import - thanks to the weaker Chinese yuan.” DBS senior economist Mr Irvin Seah pointed out the risks of potential capital flight that could result from further US rate hikes and fears of further economic slowdown in China. “Growth outlook in the next six to nine months will remain tepid before an improvement in the later part of 2016,” he added. Still, Ms Selena Ling, head of treasury research & strategy at OCBC Bank, said the latest data showed that Singapore’s economic growth has stabilised since the third quarter of last year, and this will be the trend in the first six months of this year. MTI said the manufacturing sector contracted in the fourth quarter of last year by 6 per cent on a year-on-year, weighed down by a decline in the output of the electronics, transport engineering and precision engineering clusters. The economists noted that the 4.8 per cent contraction in manufacturing for the whole of 2015 was the worst performance since 2001. UOB economist Francis Tan said: “The dovish central bank actions around the world and the global disinflationary trend had resulted in a decline in Singapore’s export competitiveness, as well as the importation of global deflation onto its shores… Although Singapore’s manufacturing sector is not out of the doldrums yet, we remain optimistic that there could be some pick-up in manufacturing growth in 2016.”

With a Own-self check Own-self and Own-self Pay Own-self type of Government, this type of report should also be Own-self Write Own-self Song. Time will come when they Own-self Pwned Own-self Big Time. At the mean time, there are not enough pupils to fill the secondary one level. How sad, what shall we do with empty schools? Its the people's fault not producing enough, no choice but to sell the piece of land away. Now even schools are not spared, as loong as they can make easy money to pay themselves, the students can squeeze into a tight classroom, who cares? That is the result of a Own-self check Own-self and Own-self Pay Own-self type of Government.

 

[JohnTan]

My 2015 income increased by 25% compared to my 2014 income. So I guess I am doing better than the average sinkie. I should bring my family out to celebrate. Is Lavastone Steakhouse nice?

 

[hsienloong]

My 2015 income increased by 25% compared to my 2014 income. So I guess I am doing better than the average sinkie. I should bring my family out to celebrate. Is Lavastone Steakhouse nice?

Good for you, hope you can spend more time here to entertain our Sammyboys. And it would good, if you can inject some humor in your writings. Hope that's not asking too much.

 

[People's Ass-Hole-Sation]

A potential tanent working Changi Airport told me he sees more and more cancelled flights, almost empty flights, usually empty first class and business class cabins. Their terminal services knows.

 

[Rogue Trader]

...
While manufacturing remained in the doldrums, economic growth in the fourth quarter of last year was supported by public-sector construction activities, and the wholesale and retail trade as well as the finance and insurance sectors.
...

Public sector construction is driven by Pap. MAS can do funny stuff to Finance and insurance companies' reserve accounts. Can't comment on retail and wholesale. But given our small market size, they traditionally account for not very much.

With this extraordinary clutch shot in the last quarter, our Pap ministers and civil serpents must have met their KPIs to receive another big 2015 bonus. Well done! HUAT AAAHHHHHH!

 

[JHolmesJr]

My 2015 income increased by 25% compared to my 2014 income. So I guess I am doing better than the average sinkie. I should bring my family out to celebrate. Is Lavastone Steakhouse nice?

Its your propensity to spout nonsense that has risen by 25%, o dyslexic vagina flap....how about some fishfingers from sheng siong?

 

[johnny333]

The MRT expansion & lift upgrading projects are winding down. So what projects do the PAP have planned to prop up the economy

Expansion of Changi airport, the planned Highway, ....?

 

[JHolmesJr]

New Immigrants-Only Terminal