Singapore economy

Singapore’s manufacturing activity made a surprise expansion in June after five straight months of contraction. 

Growth in public credit and foreign new positions has brought a 12.8% year-on-year increase in Singapore’s broad money supply, RHB’s team of economists note. This is an expansion from the 10.8% growth logged in May.

June marks the fourth month of decline in Singapore’s bank lending as both business and consumer loans took a hit from the Covid-19 health-turned-economic crisis.

Singapore’s labour market is reeling from the effects of the Covid-19 health-turned-economic crisis, as total employment plummeted by 121,800 in June 2020. This more than four times the 25,600 contraction registered in March, according to preliminary nu

The Senior Minister is worried about prolonged expansionary policy and threats to emerging markets.

SINGAPORE (July 17): Defying expectations of a slowdown from the Covid-19 outbreak, Singapore’s non-oil domestic exports (NODX) reversed out of the red in June thanks to a low base from the year before.

Hong Kong remains a “formidable” financial centre even though inquiries from businesses looking to come to Singapore are picking up amid the uncertainties in the Chinese territory, said the chief of Singapore’s financial regulator.

Now that elections are over, the government will refocus efforts on job creation amid the Covid-19 recession.

“The greatest uncertainty and the downside risks at this point in time is the global external demand, and I don’t think fiscal measures alone will be the most appropriate for this kind of challenge.” - Trade and Industry Minister Chan Chun Sing

Following the release of advance gross domestic product (GDP) estimates by the Ministry of Trade and Industry on Tuesday morning, economists are buoyant on Singapore’s economic outlook, despite the dismal numbers reported in 2Q20.