Bloomberg.com, 29 Oct 2009
Singapore will grow at a “slower and steadier” pace in the coming quarters as the construction industry contributes less to the city-state’s expansion and external demand remains “challenging,” the central bank said.
The island’s economy is in a “recovery phase” after emerging from its deepest recession since independence in 1965 and has yet to fully bounce back to pre-crisis levels, the Monetary Authority of Singapore, or MAS, said in a twice-yearly review today. Growth will shift to a more “sustainable trajectory” in 2010, it said.
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