Singapore economy has started to show signs of a slowdown, particularly in electronic sector, although the city-state will be able to weather the uncertainties ahead, local newspapers reported on Monday, citing Prime Minister Lee Hsien Loong. Lee also reiterated the Southeast Asian country is expecting a more conservative annual growth of between 1-3 percent. His comments came ahead of the country's non-oil domestic export data on Tuesday.

Singapore's trade-driven economy contracted in the last quarter of 2011, signalling it might slip into technical recession as a slump in manufacturing output and a slowdown in external demand hurt exports.

Singapore shares are set to fall on Monday after ratings agency Standard & Poor's downgraded the credit ratings of nine euro zone countries, including France which lost its top-notch AAA status.