The Macau Metro Monitor, January 3, 2011
S'PORE ECONOMY GROWS 14.7% IN 2011
According to the Ministry of Trade and Industry, an advanced reading shows that Singapore GDP grew 14.7% in 2010, its highest annual growth ever. For 4Q, GDP grew 6.9% on an annualized basis, missing economists' estimates of 9.2% growth. Economists also expect the prelim estimate of 14.7% to be revised higher in February when December activity is taken into account. However, they note that going into the first quarter of 2011, the economy is losing momentum as the 4Q data was boosted by distortions in the manufacturing data. Economists predict GDP growth of 4 to 6% for 2011.
SINGAPORE'S HOME PRICES CLIMB TO RECORD IN FOURTH QUARTER, DEFYING CURBS Bloomberg
According to the Urban Redevelopment Authority, S'pore 4Q private home prices rose 2.7% QoQ to another record. It is the 6th quarter-on-quarter advance, although the slowest during that period.