SINGAPORE (CNA) – Singapore’s factory activity expanded for the sixth consecutive month as demand continues to improve amid the COVID-19 pandemic. The Purchasing Managers’ Index (PMI) posted a marginal increase of 0.1 point from the previous month to record an expansion of 50.5 in December, data from the Singapore Institute of Purchasing & Materials Management […]
Read MoreSINGAPORE (XINHUA) – Singapore’s Ministry of Trade and Industry announced yesterday based on advance estimates, the country’s gross domestic product (GDP) for the whole of 2020 fell by 5.8 per cent year on year, compared to the 0.7 per cent growth in 2019. For the fourth quarter of 2020, Singapore’s economy contracted by 3.8 per […]
Read MoreSINGAPORE’S electricity demand is expected to have declined by 2 to 4 per cent in 2020 during the Covid-19 pandemic, Second Minister for Trade and Industry Tan See Leng said in Parliament on Tuesday. However, electricity demand is expected to rebound as the economy recovers and grows and is driven by new users such as […]
Read MoreTHE decline in Singapore’s retail sales eased in November, falling 1.9 per cent year on year, due mainly to multiple mega sales events held during the month, according to the Department of Statistics (SingStat) on Tuesday. November’s performance is an improvement over the 8.5 per cent year-on-year contraction seen in October. On a seasonally adjusted […]
Read MoreSINGAPORE – Singapore closed its worst year of economic performance on an optimistic note as the economy shrank less than expected. Gross domestic product (GDP) contracted by 5.8 per cent for the whole of 2020 amid the disruption to economic activities caused by the coronavirus pandemic, according to the Ministry of Trade and Industry’s (MTI) […]
Read MoreSINGAPORE (THE BUSINESS TIMES) – The overall payment performance of Singapore firms hit an all-time low in 2020 amid the economic fallout from the Covid-19 pandemic. The annual average proportion of prompt payments fell to less than half of total payment transactions to 40.74 per cent in 2020, from 49.05 per cent in 2019, the […]
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