In the Monetary Authority of Singapore's (MAS) December Survey of Professional Forecasters, growth is expected to slow in 2012.

A total of 21 economists and analysts who closely monitor Singapore's economy responded to the survey conducted by MAS.

Growth is expected to decline in these sectors next year:

• financial services: 4.2%, down from 9.4%
• hotels and restaurants: about 4%, down from 5.9%
• manufacturing: 3.4%, down from 8.5% this year

Companies and unions are already taking measures to prepare for a slower economy in 2012 by:

• getting more skills training from the Employment and Employability Institute (e2i) and the Singapore Workforce Development Agency
• planning more retrenchments and shorter work-weeks
• slowing hiring in the affected sectors
• employing contract workers instead of permanent staff

These sectors, however, are expected to grow next year:

• Construction: 1.8%, up from 1.2%
• Wholesale and retail trade: 2.2%, up from 1.4%

Overall, a moderation in growth is forecast across all sectors next year, with the sharpest adjustment in the manufacturing sector.