'Spore's growth prospect gloomy'

'Spore's growth prospect gloomy'

SINGAPORE: Private sector economists are gloomier about
Singapore's growth this year due to a poorer manufacturing
outlook, a survey of forecasters showed on Saturday.

The latest survey conducted by the Monetary Authority of
Singapore (MAS) found the median gross domestic product (GDP)
forecast falling to 0.8 percent compared with 1.5 percent in
June.

Prime Minister Goh Chok Tong predicted a zero to 1 percent
range earlier in August.

GDP growth for 2004 was projected at between 2.5 percent and
5.8 percent in the MAS survey of 23 economists earlier this
month.

Some respondents cited downside risks in the near-term from
sluggish recovery of external demand, a possible recurrence of
severe acute respiratory syndrome (SARS) and more terrorist
attacks in the region. Economists downgraded their 2003
manufacturing forecast by 2.3 percentage points to 2.4 percent.
-- DPA