Singapore (Source: Straits Times) The significant tightening of globalfinancial conditions and continued COVID-19 curbs in some countries areexpected to weigh on growth in Singapore’s major trading partners.
Dampened globaland regional trade flows will adversely affect activity in Singapore’smanufacturing, wholesale, water transport and storage sectors, it said.
The global electronics industry, whichenjoyed a strong post-pandemic demand surge until early this year, has seen itsoutlook deteriorate rapidly in recent months.
Singapore's manufacturing sector alreadyweakened in the third quarter, shrinking by 3.2%.
Reports showed that the Singaporeeconomy grew at 4.4% on a year-on-year basis in the third quarter, justbelow the revised figure of 4.5% in the previous three months.
The country's GDP growth is likely to stay muted in thecoming quarters, the MAS said, reiterating the official growth forecast for 2022 ata range of 3 to 4%./.
VNA
