Abstracts » Business, international

Electronic shock

Article Abstract:

A global slowdown in the electronics market has affected the Singapore economic growth rate, but this may not be a bad thing. The growth rate declined to 7% after several years of 9% to 10% growth rates. This has caused worry in some quarters, and some analysts are predicting the growth rate may fall even further. Nonetheless, 7% is still strong compared with many other economies, inflation remains at 1.2%, and slower growth will relieve cost pressures and permit investments in capital and training.

Other Electrical Equipment and Component Manufacturing, Electronics, Electronic Components and Accessories, Electronics industry

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Roaring again

Article Abstract:

Singapore has seen a spurt of growth in the second quarter, indicating that the rebound in manufacturing is underway. Industrial output rose 3.2% in the quarter to June 30, helped by recovery in electronics and expansion in chemicals. Financial services have also expanded, helped by volatile foreign exchanges and Asian Currency Unit markets. There are concerns that the country's competitiveness could be reduced in the medium term because of rising costs, however.

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