Domestic wholesale trade (seasonally adjusted) grew by 10.3% in 4Q2016 over 3Q2016. Excluding petroleum, domestic wholesale trade expanded by 5.3%. Foreign wholesale trade (seasonally adjusted) rose 9.1% in 4Q2016 over 3Q2016. Excluding petroleum, foreign wholesale trade grew by 7.7%.
The Singapore economy grew by 2.9% on a year-on-year basis in 4Q2016. Real GDP growth is expected to be ‘1.0% to 3.0%’ in 2017.
Non-oil domestic exports increased 5.0% in Jan 2017 on a month-on-month seasonally adjusted basis, after the previous month’s 2.4% decline.
Median household income from work grew in 2016.
Retail sales, on a seasonally-adjusted basis, decreased 1.9% in Dec 2016 compared to Nov 2016. Excluding motor vehicles, retail sales increased 0.7%. Seasonally-adjusted sales of food & beverage services fell 2.2% in Dec 2016 compared to Nov 2016.
Results of the Annual Economic Survey of Singapore, 2016 will be released on 17 February 2017, 8.00a.m.
An overall net weighted balance of 14% of firms in the services sector projects less favourable business conditions for the period of Jan - Jun 2017 compared with Jul – Dec 2016.
Overall, a net weighted balance of 2% of manufacturers anticipates a favourable business situation for Jan – Jun 2017, compared to 4Q2016.
Import, Export, Singapore Manufactured Products and Domestic Supply Price Indices rose 4.3%, 3.1%, 4.4% and 4.6% respectively in Dec 2016 over Nov 2016.
Employment grew by 1,900 in 4Q2016, compared to a contraction of 2,700 in 3Q2016, but was lower than the growth of 16,100 in 4Q2015.
Last updated: 20 Feb 2017
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