Tuesday, April 14, 2009

Singapore GDP to fall by 6 to 9 per cent for year 2009


"The Ministry of Trade and Industry (MTI) said gross domestic product (GDP) would fall by 6.0 to 9.0 per cent this year, a stunning downgrade from the previous official estimate of a decline of 2.0 to 5.0 per cent". This is quite bad. Hopefully things will get better in the 4th quarter.

Singapore retrench blog tracks the retrenchment activities in Singapore and it paints quite a bleak situation as well.

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