Benchmark
Singapore's Economic Rebound Isn't as Good as it Seems
- Unemployment and debt are rising, wage growth is slowing
- Higher costs have eroded international competitiveness
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Singapore’s economy may be picking up, but consumers aren’t feeling it.
After two years of below-par growth, economists and even the government are becoming more positive on the outlook. While it's not boom time yet, the consensus is that 2017 growth will come in higher than last year’s 2 percent. A large part of that is down to exports: Singapore, like other trade-reliant nations in Asia, is benefiting from a recovery in global growth, which is translating into rising sales of electronic goods.