SINGAPORE: Singapore could see a technical recession in the second half of the year, said Senior Minister of State for Trade and Industry, Mr S Iswaran, who spoke in Parliament on Monday.
A technical recession is defined by analysts as two consecutive periods of negative quarter-on-quarter growth.
Mr Iswaran added
that if this were to happen, it would largely be a reflection of large
swings in the biomedical cluster, which is being affected by scheduled
plant maintenance shutdowns.
This was on the back of Singapore
GDP estimates for the third quarter of 2010 which showed that the
Singapore economy grew by 10 per cent on a year-on-year basis in the
third quarter of 2010, with a quarter-on-quarter contraction of 19.8 per
cent.
Mr Iswaran feels that Singapore's growth remains on track
to achieve the overall growth forecast of 13 - 15 per cent for the whole
of 2010.
"Growth in the rest of the year will be underpinned by a
number of industry-specific factors. In particular, continued growth in
global demand for electronic products will lend some support to the
electronics and precision engineering clusters. Increasing visitor
arrivals driven by a resurgent Asian market and new tourism product
offerings such as the Integrated Resorts will continue to bolster
tourism-related sectors," said Mr Iswaran.
-CNA/ac
sure what......now that all the economic stimulus packages from the West have stopped...............bubble sure burst what...............
can anyone define what is 'technical recession'? why is a possible technical recession a largely REFLECTION of swing in the biomedical cluster? come on face it. the manufacturing industry has always been weak since the bloom of china and india. whatever hiccups in a sector of our manufacturing industry is what that is needed to blow out a candle.
WHEN THEY SAY SOMETHING IS ''TECHNICALLY'' SOMETHING.............
they're trying to con you into thinking that things aren't so bad.................
Originally posted by Asromanista2001:sure what......now that all the economic stimulus packages from the West have stopped...............bubble sure burst what...............
doesn't matter
now that I have profitted quite a fair bit, I'm already looking for an exit point.
My dad has already exited with some 6 figures profit.
There's no point being too stubborn in one view and not adapt to cycles.
Originally posted by troublemaker2005:can anyone define what is 'technical recession'? why is a possible technical recession a largely REFLECTION of swing in the biomedical cluster? come on face it. the manufacturing industry has always been weak since the bloom of china and india. whatever hiccups in a sector of our manufacturing industry is what that is needed to blow out a candle.
In economics, a technical recession means thtat the country's economy real GDP
contracted for two quarters successively.
Originally posted by Seowlah:In economics, a technical recession means thtat the country's economy real GDP
contracted for two quarters successively.
means it is relative.
The first 2 quarters were of such high growth after the deep retracement that, unless u can sustain that type of extreme growth (which is undesirable too), u will definitely have a contraction later on.
Originally posted by eagle:means it is relative.
The first 2 quarters were of such high growth after the deep retracement that, unless u can sustain that type of extreme growth (which is undesirable too), u will definitely have a contraction later on.
Indeed, the contraction is to a large part of a natural progression from the extreme high growth before but the biomedical industry in Singapore is a bit of worry as it tends to cause wide fluctuations from quarters to quarters, especially with the closure of the factory of the very large drug company in Singapore a few days ago.
I reckon the general consensus just wants to know if its a good or bad thing.
Technical just means slower growth rate as compared to previous quarters.
Doesn't mean there's no growth.
means no business.....people get sacked from jobs....company playing dirty to get rid of manpower....bosses try to reduce manpower etc etc.
less $$$$ more problems.....not enough $$ to pay pub bills....internet etc etc.
means pple gonna spend less, spending power contracted.
More pple saving up for the bad times.
No profits and no businesses?
BUT EVERYDAY SINCE ASIAN CRISIS IN 1997 IS A BAD TIME.....THEN IT WAS 2001 WHEN ANOTHER CRISIS N GULF WAR WHICH HAD ANOTHER RECESSION IN SPORE.....THEN 2002 THE GULF WAR ESCALTED AND EVEN MORE BIGGER RECESSION HAPPENED.....THEN WHEN IT RECOVERED IN 2005 ANOTHER CRISIS AFFECTED BACK IN 2008 IN STOCK EXCHANGE USA.....UP TO NOW ITS STILL BARELY RECOVERING IN 2010...NOW SOMEONE SAYS THERES GOING TO HAVE ANOTHER RECESSION??
HALLELUYA!!!!!
Pple getting use to all sorts of recession cycle.
Nothing new.
Afterall, life still goes on, but pay more on bills, spend less and save less. That is life in Spore.......
when S'pore economy kana bullshit by the PAP as growing..................only the ministers benefit with higher pay....................for most people economy boom or bust............also jialat.............
down with PAP..............to hell with these devils in white..................
now that Queen of Hades finally conked off..................let's hope and pray the Hubby will sleep in a coffin soon............
which drug company? so large impact?
actually i think singapore heading towards the wrong direction into biomedical.....here's why...
1) drug makers need between 10 - 15 yrs to develop and bring a drug into the market. Success is not gurrantee example Eli lily had shut down Singapore drug lab. 130 folks get laid off.
2) Singapore is too small to do any trial. Any drug that you bring into market needs to have test sample across diverse populations. We are too small and does not have enough resources to work on global scale.
3) Singapore population don't have enough research scientists in this field. We are just starting to pump in students to study this field. other countries would have 40 yrs ahead.\
4) next few years biomedical will see consolidation.
My take is what singapore should be doing is pump in money into Stem cell research and leap frog ahead of biomedical and focus on Gene therapy and Gene molecular cell treatment.
The worst still today biomedical field would be outdated in tomorrow Genetics sciences. These 2 field does not cross path.
Originally posted by troublemaker2005:which drug company? so large impact?
U got travelled down to Tuas West.....than you decide.
But I think Most importantly.......... Everyone miss the Point.!!!!!
May i remind everyone the Casino supposed to be the third wheel for Singapore economies not just to relies on manufacturing and financial sector.....it supposed to prevent singapore from slipping into Recession.........if one sector slow down..........................
looks like it is not effective because we import foreigners and we are cheaper, faster, better"er".....
Spore becoming a research hub?
Originally posted by Arapahoe:U got travelled down to Tuas West.....than you decide.
don't live around that area. which company? pm me. i go search on the info you provided thanks.
Originally posted by troublemaker2005:
don't live around that area. which company? pm me. i go search on the info you provided thanks.
i already walk there gone one big round........already know all the companies in that area.....
Originally posted by likeyou:Spore becoming a research hub?
if you are young enough......and good enough there is one major company offering scholarship for 18 months and later work for them as researcher.