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ProTaxi · Today,04:03 AM

Manufacturing down...Sinkapore not tapped into mobile phones and tablets market.Cost of living going up but Sinkies salaries and bonuses

and increments (if any!) under severe strain. In fact companies are retrenching due to poor economic outlook. Also Gahment pumping in so

called investments into infrastructure.. HDB flats, roads, MRT...etc to float the economy and address shortfalls in infrastructure. This has

caused endless frustrations in traffic jams, noise, congestions and also the influx of FTs. But these improvements in infrastructure comes

with increases in price. U all know whenever food courts are renovated, they open with a new price lists rite?

ProTaxi · Senior Guru

Money pumped into infrastructure NOT reaching fast enough into citizen's pocket .

We have to curb this blatant wastage .

ProTaxi · Senior Guru

S’pore likely in recession now based on PM Lee’s New Year message

January 1st, 2013 |

Author: Online Press

(AFP, 31 Dec): Singapore likely slipped into recession in the three months to December, analysts told AFP on Monday, as data showed growth in 2012 came in lower than expected.

In his New Year’s message, Prime Minister Lee Hsien Loong said “growth was slower this year, at 1.2 percent”, which is well off the official growth forecast of 1.5-2.5 percent.

However, CIMB Research economist Song Seng Wun said the figures for the year indicate the economy shrank 3.5 to 4.0 percent quarter on quarter in October-December, which followed a contraction of 5.9 percent in the previous three months.

Two consecutive quarters of contraction point to a technical recession.

“It’s basically just the magnitude of (the recession) rather than if,” he told AFP.

And Jason Hughes, head of premium client management for IG Markets Singapore, said: “It would seem that the PM’s statement of 1.2 percent growth for 2012 would suggest that we’ve contracted in the fourth quarter which would put us in technical recession territory.”

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More news on: http://www.thenewstribe.com/2012/12/31/singapore-likely-in-recession-after-gdp-data/

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Things are getting worse in Singapore

S’pore likely in recession now based on PM Lee’s New Year message