Singapore's economy in 2013: Lacklustre growth expected
The good news: Inflation set to moderate, jobless rate to remain low
SINGAPORE will sputter with lacklustre growth next year, leaving the economy worse off than some other countries in the region, experts say.
Morgan Stanley researchers noted that Singapore will be the most vulnerable nation in the Asean bloc, given its slow growth and strong inflationary pressures.
Barclays economist Leong Wai Ho noted that the economy has "barely grown" since the second quarter, dragged down by weak manufacturing.
The November reading for the Purchasing Managers' Index for the electronics sector highlighted the problem.
WINDOWS 8 OPENING
The release of Windows 8 is expected to be a key catalyst, but it was only launched recently. We expect shipments of computers and tablets to increase next year, which will probably benefit Singapore.
- Barclays economist Leong Wai Ho
RECESSION RISK REMAINS
High debt levels and continued uncertainty in Europe and the Middle East mean that even assuming the fiscal cliff and debt ceiling negotiations go well, the recession risk will remain.
- Mr Steve Brice, of Standard Chartered Bank