Singapore growth at a standstill

Industrial production, for instance, experienced in April and May the first back-to-back decline since 2009.

A Bloomberg report noted, “Singapore’s expansion probably stalled last quarter as manufacturing declined, presaging easing growth across Asia as rising U.S. joblessness and a widening European debt crisis undermine the global recovery.”

The report added that gross domestic product was unchanged in the second quarter from the previous three months, when it climbed an annualized 22.5 percent, according to the median estimate of 13 economists surveyed by Bloomberg News.

Irvin Seah, an economist at DBS, was quoted as saying, “Risks to economic growth have risen while inflation has passed its peak.”

View the full report here.

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