Singapore economic growth expected to drop at 5.2% in 2011

While a full-year growth of 14.8% is expected for 2010.

HSBC said that the growth of 5.2% for 2011 is mostly owing to the smaller contribution from net exports and a drawdown in incentories as the global restocking cycle is coming to an end.

These factors are expected to reverse in 2012 with the recovery in global growth. This will also lift private domestic demand and raise GDP growth to an estimated 5.8% in 2012.

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