Economy

October’s industrial production performance due to low-base levels and strong global demand

According to UOB, this growth was led by the biomedical manufacturing cluster. 

Services sector revenue climb 16% YoY in Q3

This was driven by higher business receipts across eight sectors.

GDP growth to slow down to 3-5% in 2022, from 7% in 2021

MTI cited four downside risks that will affect the economy's growth next year.

84% of Singapore-based Indians are investing locally: study

Indians pick property as the most important area to invest in.

MAS’ decision to steepen the S$NEER seen as prescient

This is according to a joint CPI release by MAS and MTI. 

SG-Chongqing financial connectivity brings $4.1b in multi-currency deals

Their financial connection has strengthened over the past year despite the pandemic.

Singapore overall inflation hits 3.2% highest since 2013

This was led by higher private road transport and accommodation costs. 

Tax measures needed to help businesses adapt: Deloitte

This is in order to attract businesses despite the decline in economic activity. 

7 of 10 Singaporeans worried about high cost of living

31% also say that they do not have a financial plan.

76% of founders pick problem-solving as most important trait in doing business

This is based on a survey conducted amongst Gen Z and Millennial entrepreneurs.

The 3Rs that will push SG equities above pre-COVID levels in 2022

These will also narrow SG’s performance gap with other markets in Asia.

Singapore exports up 17.9% in October

Re-exports also echoed this growth with a 17.8% growth.

65% of businesses expect tax compliance to get harder in 5 years

Respondents cited two factors that pose challenges to tax compliance.

55% view tax compliance as an opportunity creator: survey

Respondents cited three opportunities offered by tax compliance.