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Singapore in technical recession?
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Livermore
Master |
20-Jul-2008 14:58
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It is far better if you have a family to save enough money and provide your children with a good education | ||||
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Livermore
Master |
20-Jul-2008 14:56
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Don't follow others. Live within your means. Some like to buy a high end property and take a 30 year loan. They work to feed the housing loan. In the end, they pay a home that is worth near a million dollars. So you have not much savings. It is quite unlikely you get those property cycles of the past where you can get quite substantial gains in investment. Property price may soften now but it is quite unlikely to crash. At the end of the day, you look at a normal flat that is well renovated and compare with the interior of a high end property, can you tell the difference?
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StarLine
Senior |
20-Jul-2008 14:35
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Look at the bright side. Not just Singapore only.
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redash
Member |
20-Jul-2008 09:49
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Take note of those companies share ... | ||||
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stupidfool
Senior |
18-Jul-2008 20:55
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Aiyah,everything up but share mkt is down. Eat into my savings liao. |
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tanglinboy
Elite |
18-Jul-2008 20:40
Yells: "hello!" |
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How to survive in Singapore? Now transport is so expensive. Food so expensive. Housing so expensive. Life is getting harder. |
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elfinchilde
Elite |
18-Jul-2008 15:47
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what technical? Prices of food, water, electricity, oil etc have gone up, public transport due to go up, inflation up, exports down, wages at a constant/not matching inflation (except for ministers' salaries. ooh.) Global outlook down; US, our major export market, is down. If this is not a recession, what is? The surest sign is when a year ago, ministers' pay hiked up from 1.2mil to 1.9 mil, and now they say they can't raise workers' wages because it will "lead to an inflation spiral." The numbers are just a game of obfuscation. 
The facts, however, were there long ago. |
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nextdoor
Senior |
18-Jul-2008 15:14
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Highly possible...alot of unfavourable data has yet to surface. Trade with care folks! |
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tanglinboy
Elite |
18-Jul-2008 12:49
Yells: "hello!" |
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SINGAPORE (Thomson Financial) - Singapore's
non-oil domestic exports in June fell 10.5 percent to S$12.8 billion
from a year ago with sharp declines in shipments to key markets such as
the United States, Europe and China, the International Enterprise
Singapore (IE Singapore) said on Thursday.
The decline was the same as the previous month's fall but came in worse than analysts' forecast of a 6.7 percent drop, as exports of electronics and pharmaceuticals continued to slump. Electronics exports fell 14.6 percent in June from a year ago as demand for semiconductor chips, disk drives and consumer electronics products tanked, IE Singapore said. Pharmaceutical exports, meanwhile, slid down 22.3 percent. Seven out of the city-state's 10 major markets registered declines in shipments, led by the 24 percent fall in exports to the United States, which is suffering from a housing slump and credit crisis. Exports to Europe declined 16 percent and were down 12 percent to China. Shipments to Malaysia, South Korea and Hong Kong, meanwhile, were marginally higher, ranging from 0.5 to 12.0 percent. 'This indicated weakness in external demand, which highlights the risk to exports numbers,' said Song Seng Wun, regional economist at CIMB-GK Research. 'We should be prepared for even more ugly export numbers in the coming months,' he said. Seasonally-adjusted, June non-oil domestic exports grew 4.2 percent from the previous month, reversing a 9.8 percent monthly decline in May but lower than the 5.0 percent growth forecast of economists polled by Thomson IFR. The weak external demand will exert a significant drag on Singapore's manufacturing sector, which accounts for about a third of the city-state's economy. 'The hit of manufacturing momentum could well go into the third quarter,' said Standard Chartered (other-otc: SCBEF.PK - news - people ) economist Alvin Liew. The city-state's gross domestic product grew at a much slower annual pace of 1.9 percent in the second quarter from 6.9 percent in the first due to a slump in biomedical production, declining 6.6 percent from the first, based on the government's advance estimate. Liew warned the Singapore economy may enter its first technical recession, defined as two consecutive quarters of contraction, in six years. |
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