Singapore ranks as the world's third least miserable economy: Bloomberg

The index hailed the city's central bank and stable economic policies.

Despite falling by one spot, Singapore still ranks as one of the world's least miserable countries, trailing only behind Thailand and Switzerland, according to an annual index from Bloomberg. 

Singapore's index reading, which measures a country's inflation and unemployment, stands at 3.3 and puts the city alongside Japan at third place. Bloomberg hailed the Singapore's stellar economic performance and 'central bankers [which] gained best-in-world status.'

Also read: Singapore is the second easiest place to do business

In a strong show of Asian dominance, Taiwan and Malaysia round out the top five with an index reading of 4.7 and 5.0 respectively. Hong Kong and South Korea hold seventh and eighth place respectively. 

At the other end of the spectrum, the world's most miserable country is Venezuela where inflation is expected to hit a whopping 8 million % in 2019. The embattled South American country is followed by Argentina, South Africa, Turkey and Greece who are also grappling with steep price growth and jobless rates.  

The Bloomberg Misery Index relies on the age-old concept that low inflation and high employment generally illustrate how good an economy's residents ought to feel.