Singapore reduces economic forecast for this year

[dArKeR]

The Singapore government yesterday cut its economic growth forecast for this year from 3.0-5.0 percent to 2.5-4.5 percent after a weaker-than-expected performance in the first quarter.

Figures released by the Ministry of Trade and Industry showed GDP in the March quarter grew 2.5 percent from a year ago, better than official preliminary estimates of 2.4 percent but the weakest rate since the third quarter of 2003.

It was also much slower than the 6.5 percent expansion registered in the December quarter.

http://www.taipeitimes.com/News/worldbiz/archives/2005/05/18/2003255512