Singapore: One Growth Driver, Two Concerns, Three-Track Economy

Singapore: External Solidity, Domestic Stresses

Singapore: Increasingly Dependent on Single Pillar of Growth

Singapore: Respectable Growth in a Three-Track Economy

Economist, Centennial Asia Advisors

Jason Tan

Economist

Centennial Asia Advisors

At Centennial Asia Advisors, we tell it like it is. We have no vested interests, no need for a China wall, and no reason to skew our outlook any other way. With over 30 years experience covering Asia’s political economy, you can be sure our conclusions and analyses are based on the unadulterated facts. Through years of fine-tuning our research methodologies, we deliver a quality of macroeconomic analysis few other houses can match.

Centennial Asia Advisors is an independent research and advisory firm that works with governments, multilateral institutions, financial firms and leading MNCs.

Economic Policy and Strategic Advisors

Macroeconomics

Domestic demand picking up<ul><li>Retail sales rose 2.6% y/y in Apr 17, up from 2.1% in Mar 17. Excluding motor vehicles, retail sales surged 4.9%, significantly up from 0.7% in March and the fastest increase since February 2013.</li></ul>External demand moderating<ul>
<li>Non-oil domestic exports (NODX, reflecting the vigour of the manufacturing sector) declined 1.2% y/y in May 17, after falling 0.8% in April, marking two months of contractions after five months of rapid growth beginning in late-2016.</li>
<li>Non-oil re-exports…</li>
</ul>

Domestic demand picking upRetail sales rose 2.6% y/y in Apr 17, up from 2.1% in Mar 17. Excluding motor vehicles, retail sales surged 4.9%, significantly up from 0.7% in March and the fastest increase since February 2013.External demand moderating
Non-oil domestic exports (NODX, reflecting the vigour of the manufacturing sector) declined 1.2% y/y in May 17, after falling 0.8% in April, marking two months of contractions after five months of rapid growth beginning in late-2016.
Non-oil re-exports…


Singapore: Labour Market a Drag