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Resilient residential property market likely helped Singapore avoid technical recession

 

Asian recovery also credited by Moody's.

Moody's expects the 4Q12 GDP to have grown by 1% ahead of the official results release. 

"Singapore's economy recovered mildly in the final quarter of 2012, but growth remains sluggish. Tighter foreign worker inflows and weak global demand for electronics are contributing to the relatively subdued growth. On the upside, the region's recovery and the continued strength of the residential property market appears to have helped Singapore avoid a technical recession," Moody's said in its Asia-Pacific Preview report for this week.



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