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Going by official statistics (www.singstat.gov.sg), Singapore is technically in a recession: -4.2% in 2008Q4, -9.5% in 2009Q1, and -3.5% in 2009Q2.
Consumers are spending less: the retail industry, for example, has contracted by 13% for the last two quarters.
Unemployment is growing: the UE rate Singapore averaged 2.1% in 2007, and has doubled to 4.2% in 2009Q2.
BUT....
- The Singapore STI index has jumped by 85% from its lows in March this year
- There are now overnight queues forming in front of property launches in non-prime districts
So the answer really depends on your point of view.
- If you're a job seeker, it's bad, and may get worse
- If you're a real estate agent or a stock broker, it's champagne popping time
Wiki User
∙ 14y ago
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What kind of economy does Singapore have?
Singapore is a parliamentary republic.its a politacal government
What type of economy Singapore currently have?
Singapore is a market based economy.
Singapore command economy?
Singapore is not a poor country
What activity is important in Singapore?
The manufacturing sector is the pillar of Singapore's economy
Does Singapore have a command or free market economy?
A market economy
What is Singapore's agriculture?
Nothing. Singapore has no agriculture and its economy depends solely on on trade.
What is the economy price for return Singapore - Auckland-Singapore?
SGD$1706(price vary)
How will the youth Olympics affect Singapore's economy?
It makes foreign people come to Singapore to cheer for whoever they support and spend some money in Singapore.
What is the rank of Singapore's economy globally?
5th or 6th or 7th
What represent Singapore as a country?
Diversity driven by it's economy.
How bad is your economy?
the economy is a very bad system
What kind of Agriculture did Singapore have?
Singapore's agriculture is a big part of its economy. Some of the major agricultural products of Singapore are food crops, flower crops and fishing.
