Wednesday, December 16, 2009

Another misleading headline, this time about Singapore

A piece by an analyst today reads: "Is Positive Growth in Singapore Sustainable?".

This would seem to indicate that "positive growth" is taking place in Singapore, and the question that is going to be asked by the piece is whether that growth is sustainable.

However, when one reads the piece, one finds that there is NO growth taking place taking place in Singapore: all that is happening is that the decline is slowing down!:
"the pace of contraction in retail and auto sales decelerated significantly in October 2009. Retail sales contracted 4.4% y/y, the smallest decline in 10 month, in October after falling a revised 12% y/y in September. Auto sales contracted 14.6% y/y in October after plunging 36.3% y/y in September...". Sphere: Related Content

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