Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  October 12, 2012 10:35:33

Singapore - 3Q GDP decreased by 1.5%, but the stimulus is not held due to inflation


Singapore announced that 3Q GDP declined by 1.5% qoq in annual terms. In 2Q GDP grew by 0.2%. The market on average estimated for the 3Q decline of 1.6%.
Singapore also announced that abandons the idea of ??monetary stimulation due to concerns about rising inflation, which remains at a relatively high level, and despite the recent decline in the dynamics of the island economy. Currently, inflation hovered 21měsíčního lows around 3.9%. The Central Bank estimates that the average for this year is at its end at 4-4.5%.
Singapore's central bank said it will continue to strive for a moderate and gradual appreciation of your local dollar. Singapore dollar has strengthened this year by about 6% against its U.S. counterpart and is the most successful currency of 11 leading Asian countries. Over the last decade, Singapore dollar strengthened by 47% against the U.S. dollar.During the same time, the Singapore economy has more than doubled.

Market counting on the central bank to take measures to weaken the dynamics of the local currency in order to encourage renewed growth of the local GDP.
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Singapur - HDP ve 3Q poklesl o 1,5%, stimul se ale nekoná kvůli inflaci

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