Economy
Tariff risks to weigh on Singapore’s growth in 2025
Tariff risks to weigh on Singapore’s growth in 2025
However, strong domestic data may prompt the MAS to maintain its current policy stance.
Household income grows faster than spending from 2017/18 to 2023
Income grew 4.1% annually to $15,473, outpacing 2.8% expenditure growth to $5,931.
Business receipts in service industries rise 12.7% YoY in Q3 2024
Information and Communications led business receipts growth.
Manufacturing and export growth bolster Singapore corporates
Corporate debt servicing capabilities are expected to remain resilient, says MAS.
Singapore remains confident in China’s future, seeks deeper collaboration amid challenges: SM Lee
The joint projects between the two countries will boost development and innovation
Economists split on MAS policy for early 2025 as October inflation eases
Headline and core inflation down 1.4%YoY and 2.1%, respectively.
Headline inflation falls to 1.4% as private transport and accommodation costs ease
Private transportation inflation's contraction widened to -2.5%.
UOB raises Singapore’s 2024 growth forecast to 3.5% on trade strength
However, its 2025 forecast was downgraded to 2.5% amidst external risks.
MTI raises Singapore’s 2024 economic growth forecast to around 3.5%
Its initial forecast was 1.0% to 3.0%.
MTI appoints Jermaine Loy as new managing director of EDB
He will take over starting 1 March 2025.
SG narrows 2024 NODX growth forecast to 1.0% on weak H2 recovery
For 2025, Enterprise Singapore projects NODX growth of 1.0% to 3.0%.
Non-oil domestic exports rebound, rising 9.2% YoY in Q3
In Q2, NODX fell 6.5% YoY.
Domestic wholesale sales fall 3.0% YoY in Q3 amidst industry declines
Petroleum & Petroleum Products impacted sales the most.
Foreign wholesale trade slips 2.4% YoY in Q3 as sectors struggle
General Wholesale Trade posted the largest decline.
SG, Zambia sign MoU on carbon credits
The countries will exchange best practices and knowledge on carbon credit mechanisms.
Singaporean investors seen raising US market allocation to 22% after Trump election
Due to interest rate changes and Trump’s economic policies.
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