The Macau Metro Monitor, November 21, 2011
SINGAPORE SAYS ECONOMIC GROWTH MAY SLOW TO 1% TO 3% IN 2012 BusinessWeek
3Q GDP grew a seasonally-adjusted 1.9% QoQ, missing estimates of 2.0% growth. Retail sales weakened, falling for the first time in seven months in September, while growth in credit-card billings has slowed, signaling spending at hotels, restaurants and department stores may moderate. Singapore Ministry of Trade and Industry (MTI) said the economy will likely weaken in 4Q alongside deteriorating external macroeconomic conditions and a pullback in biomedical output growth.
MTI also mentioned that 2012 growth may slow to 1-3%. Furthermore, the government’s 2012 GDP forecast “does not factor in downside risks to growth, such as a worsening debt situation or a full-blown financial crisis in the advanced economies,” it said. “Should these risks materialize, growth in the Singapore economy in 2012 could come in lower than expected.”
CONSUMER PRICE INDEX FOR OCTOBER 2011 DSEC
Oct CPI increased 6.71% YoY and 0.58% MoM.
VISITOR EXPENDITURE SURVEY FOR THE 3RD QUARTER 2011 DSEC
Total spending (excluding gaming expenses) of visitors reached MOP 12.1 BN in 3Q 2011, +25% YoY; per-capita spending of visitors amounted to MOP 1,633, an increase of 7% YoY. The average length of stay of visitors was identical to 3Q 2010, at one day.