Singapura berkata ekonominya mampu berkembang pada kadar 13 - 15 peratus tahun ini. Bagaimana pula dengan negara kita yang diperintah oleh UMNO/BN yang mengaku mereka terlampau pandai mentadbir dan mengurus ekonomi? Memang Malaysia juga berlaku pertumbuhan tapi bukan ekonomi. Malaysia hari ini dikenali sebagai negara yang cukup berjaya dari segi pertumbuhan rasuah dan penyelewengan. Soal ekonomi memang hancus.
Singapore sees record 13-15pc growth in 2010
SINGAPORE, July 14 — Singapore said its economy would grow a stunning 13-15 per cent in 2010 after reporting a record 19.3 per cent year-on-year surge in second quarter output, but analysts said there was little immediate risk of overheating.
The government said exceptionally strong growth in the first half was unlikely to be sustained in the remainder of the year given expected weaker US and European demand for Asian exports, though it played down a risk of another recession.
“The sluggish final demand in the US and EU has moderated industrial activities and lowered expectations for manufacturing output in the Asian economies,” the Ministry of Trade and Industry said in a statement. “The momentum of the global economic recovery has thus moderated, although a double-dip recession remains unlikely at this juncture.”
Although coming off a low base, the second quarter number is the highest in the history of the Southeast Asian city-state and far exceeded analyst expectations. If the full-year projection is accurate, it could make Singapore the fastest-growing major emerging market economy in the world this year.
Economists said they did not see any policy response before the central bank’s semi-annual review due in October.
“I don’t think there’s a need for an immediate adjustment,” said Dave Cohen at Action Economics. “Inflation is under control, the Singapore dollar is already on a rising trend and commodity prices are moderating, which will help keep a cap on price pressures.”
He added: “Singapore’s growth will clearly surpass China’s, and may be the fastest in the world. But I won’t put too much emphasis on that. Singapore is rebounding from a contraction whereas China continued to grow at an 8-9 per cent pace last year.”
Financial markets showed muted reaction to the buoyant data with the Singapore dollar a touch firmer and stocks up 0.8 per cent, mainly in response to a strong Wall Street close.
Singapore, reliant on manufacturing and exports, saw its economy shrink 1.3 per cent last year in the midst of the global financial crisis.
Today’s advance estimates showed second quarter output surged 26.0 per cent on an annualised, seasonally adjusted basis, with especially strong growth in manufacturing, particularly from the biomedical cluster.
EURO ZONE EXPORTS SURGE
The government also said that June non-oil domestic exports surged 28.7 per cent year-on-year and raised its full-year exports growth forecast to 17-19 per cent from an earlier 15-17 per cent.
Despite fiscal austerity plans announced by several European nations, exports to the EU surged 75.1 per cent over the previous year, although shipments to the United States remained static and export to China grew slower than in May.
“It looks like we are at the peak of the cycle,” Citigroup economist Kit Wei Sheng said. “When you look at the numbers, it is flattening out: the flat demand from the US and some kind of slowdown in China. It is not a slump, not a double-dip, but a slowdown in growth.”
Exports of electronics rose 43.9 percent from a year earlier in June, while petrochemicals exports leaped 56.2 per cent.
The government also revised first quarter GDP data, saying the economy grew a record 45.9 per cent on an annualised basis and 16.9 per cent compared with the January-March period of 2009.
Singapore originally said its economy contracted by 2 per cent last year, its worst-ever showing, but the data was subsequently revised to show a contraction of 1.3 per cent using a new time series that gave different weights to different sectors.
A median forecast of analysts polled by Reuters before the data was for 2010 growth to reach 10.7 per cent. — Reuters
Singapore sees record 13-15pc growth in 2010
SINGAPORE, July 14 — Singapore said its economy would grow a stunning 13-15 per cent in 2010 after reporting a record 19.3 per cent year-on-year surge in second quarter output, but analysts said there was little immediate risk of overheating.The government said exceptionally strong growth in the first half was unlikely to be sustained in the remainder of the year given expected weaker US and European demand for Asian exports, though it played down a risk of another recession.
“The sluggish final demand in the US and EU has moderated industrial activities and lowered expectations for manufacturing output in the Asian economies,” the Ministry of Trade and Industry said in a statement. “The momentum of the global economic recovery has thus moderated, although a double-dip recession remains unlikely at this juncture.”
Although coming off a low base, the second quarter number is the highest in the history of the Southeast Asian city-state and far exceeded analyst expectations. If the full-year projection is accurate, it could make Singapore the fastest-growing major emerging market economy in the world this year.
Economists said they did not see any policy response before the central bank’s semi-annual review due in October.
“I don’t think there’s a need for an immediate adjustment,” said Dave Cohen at Action Economics. “Inflation is under control, the Singapore dollar is already on a rising trend and commodity prices are moderating, which will help keep a cap on price pressures.”
He added: “Singapore’s growth will clearly surpass China’s, and may be the fastest in the world. But I won’t put too much emphasis on that. Singapore is rebounding from a contraction whereas China continued to grow at an 8-9 per cent pace last year.”
Financial markets showed muted reaction to the buoyant data with the Singapore dollar a touch firmer and stocks up 0.8 per cent, mainly in response to a strong Wall Street close.
Singapore, reliant on manufacturing and exports, saw its economy shrink 1.3 per cent last year in the midst of the global financial crisis.
Today’s advance estimates showed second quarter output surged 26.0 per cent on an annualised, seasonally adjusted basis, with especially strong growth in manufacturing, particularly from the biomedical cluster.
EURO ZONE EXPORTS SURGE
The government also said that June non-oil domestic exports surged 28.7 per cent year-on-year and raised its full-year exports growth forecast to 17-19 per cent from an earlier 15-17 per cent.
Despite fiscal austerity plans announced by several European nations, exports to the EU surged 75.1 per cent over the previous year, although shipments to the United States remained static and export to China grew slower than in May.
“It looks like we are at the peak of the cycle,” Citigroup economist Kit Wei Sheng said. “When you look at the numbers, it is flattening out: the flat demand from the US and some kind of slowdown in China. It is not a slump, not a double-dip, but a slowdown in growth.”
Exports of electronics rose 43.9 percent from a year earlier in June, while petrochemicals exports leaped 56.2 per cent.
The government also revised first quarter GDP data, saying the economy grew a record 45.9 per cent on an annualised basis and 16.9 per cent compared with the January-March period of 2009.
Singapore originally said its economy contracted by 2 per cent last year, its worst-ever showing, but the data was subsequently revised to show a contraction of 1.3 per cent using a new time series that gave different weights to different sectors.
A median forecast of analysts polled by Reuters before the data was for 2010 growth to reach 10.7 per cent. — Reuters
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