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S'pore out of recession
Wat timely news.... coming to yr end time.... always juz in time for tat fat bonus.... but but but... been v long since i had 1... so the fat bonus is for who? 
SINGAPORE'S recession is decisively over after the economy surged with unexpected velocity in the third quarter, growing over the same period a year earlier for the first time in more than a year.
This stellar performance prompted the Government on Monday to raise its full- year forecast for the second time in three months, but it cautioned that this pace of growth is likely to slow.
A 'clear but modest recovery' is under way globally, at least for the next three or four quarters, but economic activity is likely to stay below pre-crisis levels, said the Ministry of Trade and Industry (MTI).
Spending levels in developed economies continue to be weighed down by high unemployment and stagnant income. Uncertainty lingers over how soon and how quickly world governments will scale back stimulus packages, it said.
The good news: Despite possible weak growth and uneven recovery next year, Singapore is unlikely to drop back into recession, barring further financial shocks, said the MTI.
On Monday, it said the economy grew 0.8 per cent in the third quarter compared with the same period a year earlier, the most common measure of growth.
http://www.straitstimes.com/Breaking...ry_441471.html
SINGAPORE'S recession is decisively over after the economy surged with unexpected velocity in the third quarter, growing over the same period a year earlier for the first time in more than a year.
This stellar performance prompted the Government on Monday to raise its full- year forecast for the second time in three months, but it cautioned that this pace of growth is likely to slow.
A 'clear but modest recovery' is under way globally, at least for the next three or four quarters, but economic activity is likely to stay below pre-crisis levels, said the Ministry of Trade and Industry (MTI).
Spending levels in developed economies continue to be weighed down by high unemployment and stagnant income. Uncertainty lingers over how soon and how quickly world governments will scale back stimulus packages, it said.
The good news: Despite possible weak growth and uneven recovery next year, Singapore is unlikely to drop back into recession, barring further financial shocks, said the MTI.
On Monday, it said the economy grew 0.8 per cent in the third quarter compared with the same period a year earlier, the most common measure of growth.
http://www.straitstimes.com/Breaking...ry_441471.html
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