Singapore said a global slowdown in the final months of the year will cap full-year economic growth at about 3 percent before an uneven recovery in 2015.
The island’s expansion will probably ease after gross domestic product rose 3.3 percent in the first three quarters from a year earlier, the Ministry of Trade and Industry said today. GDP grew 2.8 percent in the three months through September from a year earlier, and gained an annualized 3.1 percent from the second quarter, more than an October estimate.
“Externally-oriented sectors such as the manufacturing and transportation and storage sectors are likely to slow,” the ministry said. “While global growth is expected to pick up modestly in 2015, the pace of recovery is likely to remain uneven across the economies.”
Recommended Content
Editors’ Picks
EUR/USD hold comfortably above 1.0750 as USD recovery loses steam
EUR/USD clings to small daily gains above 1.0750 in the early American session on Monday. In the absence of high-tier data releases, the US Dollar finds it difficult to gather recovery momentum and helps the pair hold its ground.
GBP/USD struggles to find direction, holds near 1.2550
GBP/USD stays under modest bearish pressure and trades near 1.2550 on Tuesday. The neutral risk mood, as reflected by the mixed action seen in US stocks, doesn't allow the pair to make a decisive move in either direction. The Bank of England will announce policy decisions on Thursday.
Gold rebounds to $2,320 as US yields edge lower
After falling to $2,310 in the early European session, Gold recovered to the $2,310 area in the second half of the day. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.5% and helps XAU/USD find support.
Ripple lawsuit develops with SEC reply under seal, XRP holders await public redacted versions
Ripple lawsuit’s latest development is SEC filing, under seal. The regulator has filed its reply brief and supporting exhibits and the documents will be made public on Wednesday, May 8.
The impact of economic indicators and global dynamics on the US Dollar
Recent labor market data suggest a cooling economy. The disappointing job creation and rising unemployment hint at a slackening demand for labor, which, coupled with subdued wage growth, could signal a slower economic trajectory.