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Singapore in 2017: Reasons for hope amid the challenges

Manu Bhaskaran
Manu Bhaskaran1/9/2017 02:03 PM GMT+08  • 11 min read
Singapore in 2017: Reasons for hope amid the challenges
After exuberantly celebrating 50 years of independence in 2015, Singapore came down to earth with a bit of a bump in 2016. Economic growth slowed further, employment conditions weakened, property prices continued to fall, retail sales ex-cars were weak an
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After exuberantly celebrating 50 years of independence in 2015, Singapore came down to earth with a bit of a bump in 2016. Economic growth slowed further, employment conditions weakened, property prices continued to fall, retail sales ex-cars were weak and bad loans accumulated in some sectors. Looking into 2017, a mood of caution persists in business surveys, unsurprising since local firms remain concerned about high costs, weak markets and an increasingly uncertain global environment.

There are good reasons to be concerned because times are tough, but there are also some reasons to be confident that Singapore will overcome these challenges as it has done before. We think that there are four global and two domestic drivers that will determine the country’s performance in the coming year.

Global demand cycle: Positive

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