Thursday, September 18, 2008

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Singapore Economic Outlook: Non-oil Exports fell 14% in August 2008

Singapore's non-oil exports fell 14% in August year-on-year as slowing global economic growth cut consumer demand for electronic goods. The drop in exports was led by electronic goods which fell 19%. Pharmaceuticals also fell by 9.6%. Exports, however, rose 2.0% compared t0 July 2008. Singapore government cut its 2008 economic growth forecast last month to between 4-5% on expectations of falling consumer demand in the U.S., Europe and Japan. Exports fell 5.8% in July 2008 year-on-year. The continuous decline in August raises the probability of a technical recession in 2008.

May also want to read:
History of Singapore Property 1960 to 2008
Buy or Not Buy: How to decide amid mixed market signals
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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