There isn’t a single Singapore stock in the Asia Stock Alert portfolio. Why not? I’ve stayed away from export-dependent countries — like Singapore and South Korea — because they are suffering along with the U.S.
Retail sales fell like a rock in April, declining by 11.7% — the worst drop since 1999. That’s following a 7.3% and 5.5% drop in March and February respectively.
The Singapore government is expecting its economy to contract by 9% in 2009, which would be the worst recession since it split from Malaysia in 1965.
Maybe my hotel rooms will cost less the next time I visit Singapore.
Related Posts
- Car sales plunge in China (12/03/08)
- China retail sales jump 21.6% in May (06/17/08)
- Retail sales blast off in China (08/13/08)
- Korean Retail Sales Jump (09/17/09)
- Retail sales still cookin in China (12/22/08)
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