Singapore economy to slowdown in last 2 quarters: Moody's

As global crisis looms how did Singapore fare in 1Q12 compared with ASEAN peers?

Moody's Analytics research said Singapore has not fared well in recent quarters as its performance is more closely tied to the global economy.

First quarter GDP growth it said was supported by a pickup in residential construction and a lift in manufacturing as supply chains recovered after the Thai floods, but the economy is likely to see a slowdown through the second and third quarters of 2012.

Here's the chart:

The ASEAN 5

Moody's found that the ASEAN‐5—Indonesia, Malaysia, Philippines, Singapore and Thailand—have shown resilience as strong investment and household spending have helped to cushion the impact of weaker global growth.

That said, the export slowdown caps regional DP growth slightly below potential at 5%.

Exports are the traditional growth engine of the region, but even with the recent softening in global demand, economic growth has held firm. Investment and household spending is lifting domestic demand in Indonesia and Malaysia, said Moody's.

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