Moody: Singapore's Growth To Remain Subdued On Back Of Weak Demand

Moody’s expects Singapore’s GDP growth for 2016 to slow at about 1.6 per cent, after expanding by 2.0 per cent in 2015. 
This forecast for 2016 is at the lower end of the government’s estimated growth range of 1.0 per cent to 3.0 per cent, said the credit rating agency in a report Thursday. 
Growth is expected to be significantly slower than it was between 2000 and 2010, when it averaged at 6.2 per cent annually, Moody’s said. 
"A slowdown in external demand will remain the key drag. Industries with high exposure to global conditions, such as engineering including marine and offshore engineering – and oil and gas, will be most affected." Moody’s says that as one of the most trade-dependent economies globally, Singapore is especially vulnerable to the current lackluster global trade conditions.