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Singapore to expand the most in 2010
Although the economy is set to slow following “stunning” growth in the first half of the year, momentum is still robust says HSBC.
“The domestic economy is still benefiting from buoyant consumption. New casinos are luring more and more visitors to the island state, and retail sales have also been boosted by the arrival of around one million visitors every month. Even car sales, which had been sluggish on account of high licence fees, have roared back,” HSBC Global Research explained.
According to HSBC, momentum is robust enough for the Singapore monetary authority to maintain its tightening bias.
The other two Asian countries expected to expand the most this year are China and India.
View the graph here.
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