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US Shows Signs Of Positivity; Singapore To Grow 2% To 4% In 2014
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By: Nicholas Tan
Articles (71) Profile

Over in the US, economic data coming out from the world’s largest economy showed a series of positive signs as gross domestic product grew at a 0.1% annualised rate for the first quarter of 2014, compared with a 2.6% gain in the prior quarter, reported the US Department of Commerce.

The latest expansion confirmed monetary easing to be a trend of the past, at least for the US Federal Reserve, as it scaled back another US$10b on its unprecedented monthly bond-buying programme to US$45b, seemingly unhindered by the first quarter slowdown.

US payrolls is projected to climb by 215,000 in Apr after rising 192,000 a month earlier, according to the median estimate of a Bloomberg survey of economists, resulting in the unemployment rate to decline from 6.7% to 6.6%.

Continued gains in employment led consumer purchases to advance 3% in 1Q14, spurred by utility outlays and spending on healthcare. Consequently, US manufacturing picked up in Apr due to higher consumer spending in the prior quarter, showing that its economy is ready to lift off in 2Q14.

The Institute for Supply Management’s factory index rose to 54.9, the strongest so far this year, from 53.7 in Mar.

At home, Singapore’s economy grew 4.1% last year and is forecast to expand by 2% to 4% for 2014, as the country undergoes a major economic transition. 1Q14 seasonally adjusted unemployment rate edged up to 2.1% in Mar, compared to 4Q13, on the back of slower employment growth which fell to 24,900.

The fortnight saw two initial public offerings – PACC Offshore Services Holdings and QT Vascular. In total, these firms added about $2.3b of market capitalisation to the local stock exchange.

As we enter into May, investors might want to pay heed to the “Sell in May and go away” mantra, as according to market watchers, volatility is likely to pick up following the benchmark STI’s good performance in Apr.

Well trained in aspects of finance and business, Nicholas oversees the finance and manufacturing sectors at Shares Investment.

Please click here for more information about this author.

PACC Offshore Services Hldgs  0.175 +0.001 +0.57%   
Business: Operator of offshore support vessels (OSV), with a diversified fleet servicing offshore O&G activities. [FY17 Turnover] OSV (39%), offshore accommodation (42.5%), harbour svcs & emergency response(11.1%), tptn & installation (7.4%).

Insight: Aug-18, 1H18 revenue doubled to US$153.7m due to h... Read More
QT Vascular  0.003 -- --   
Business: Development and sale of medical devices

Insight: May-18, 1Q18 revenue decreased 7.6% to US$3m mainl... Read More


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