The Asian Development Bank yesterday released an update of its growth forecasts for the region.
Country | 2004 | 2005 |
China | 8.8% | 8.0% |
Singapore | 8.1% | 4.2% |
Hong Kong | 7.5% | 6.0% |
Malaysia | 6.8% | 6.0% |
India | 6.5% | 6.0% |
Thailand | 6.4% | 6.6% |
Indonesia | 4.8% | 5.2% |
South Korea | 4.4% | 3.6% |
Singapore is expected to be among the strongest performing Asian economies this year, growing at 8.1 percent this year. However, its economy is expected to decelerate to 4.2 percent growth next year.
The Singapore stock market has probably already discounted this year’s strong growth, the Straits Times Index having risen 12.7 percent since the beginning of 2004.
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