Friday, December 03, 2004
Survey: Singapore GDP growth expected to be 8.3% in 2004
SINGAPORE (AP) - Singapore's trade-dependent economy is expected to grow 5.7 percent in the final quarter of the year, bringing full-year growth to 8.3 percent, according to a quarterly central bank survey of economists' forecasts published Friday.
The figures are based on the average forecast of 19 private sector forecasters polled by the Monetary Authority of Singapore, and they confirm the country's best performance since 2000, when its economy grew 10.3 percent. The economists' estimates are in line with the government's in-house projection for an 8.0 percent to 8.5 percent rise in gross domestic product this year. In November, the Ministry of Trade and Industry narrowed its 2004 growth forecast from an earlier 8.0 percent to 9.0 percent range after a sharp slowdown in the July-to-September quarter. In the previous MAS survey, which was carried out in August, economists had pegged full-year economic growth at 8.4 percent. For 2005, the economists expect the Singapore economy to grow 4.3 percent on average, in line with the Singapore government's official forecast for growth of 3 percent to 5 percent. - APFor another perspective from The Straits Times, a partner of Asia News Network, click here.
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