Singapore economy
F&B sales down 4.5% YoY in October to $659m
Restaurants experienced the most YoY decline at 24%.
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.
Daily briefing: SGX mulls first US dollar bond; China uses coercion to back claims in disputed waters: US
And Trade and Industry Minister highlights digitalisation as critical in recovery.
Daily briefing: US VP Harris to visit SG next week; SG economy relies on 'openness': Health Minister
And Singapore will not reach herd immunity despite the high vaccination rate.
Singapore economy projected to increase by up to 7%
This is an upgrade from the previous 4% to 6% predicted by the Ministry of Trade and Industry.
Recovery relies on border restrictions easing
Outlook for the tourism and food and beverage sectors do not look promising for the remainder of 2021.
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