Thursday, August 7, 2008

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Tharman: Singapore Economy to remain weak for several quarters into 2009

Finance Minister Tharman says Singapore economic growth may remain weak for several quarters, extending into next year, 2009.

Though the minister also says inflation is likely to ease by year end, this is hardly good news because easing inflation is likely the result of recession. Inflation rate has been revised upward earlier to 6%-7%, while economic growth has been revised downward from 5%-7% to 4%-6% and MAS has said that it'd be further revised.

It's no more just about the US subprime problem or even the global crisis, some distant problem we can ignore, but the problem is now at our own doorstep. So much for the decoupling theory ...

May also want to read:
History of Singapore Property 1960 to 2008
Buy or Not Buy: How to decide amid mixed market signals
When to Buy, When Not to by
Property Price Index Graph Plotter & Online Property Valuation
Your Property Investment Determines Your Financial Success in Your Life
HDB Resales: West Sees Highest Price Increase


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The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.

Smart Buyer :)