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Singapore Economy Seen Growing 5.7 Percent In 2011

By: Associated Press
By: Associated Press

SINGAPORE (AP) - Singapore's central bank says a survey of analysts shows economic growth will likely slow to 5.7 percent this year from last year's record pace.

The survey of 20 analysts conducted by the central bank revealed
Wednesday that growth of manufacturing, financial services and
construction will all likely slow this year after gross domestic product jumped 14.5 percent in 2010.

Analysts had expected the economy would grow 5.1 percent this year in the previous survey in December.

The inflation rate will probably rise to 4.0 percent this year, the unemployment rate will be 2.0 percent and the exchange rate will end 2011 at 1.23 Singapore dollars per U.S. dollar.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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