The number of businesses in Singapore that closed shop in December exceeded those that were formed by the widest margin since 2005. Some 7,120 companies stopped operations, compared with 4,757 that were created, according to the statistics department. Joseph Incalcaterra, an economist at HSBC, describes the move as “ominous,” saying it signals weaker services output in the first half.
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Singapore Firms Going Out of Business in 'Ominous' Sign: Chart
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