MAEC Project TR02 Group 2 by https://padlet.com/millenloo/23kqi1vfqzca Team members: Millen, Keane, Birtney, Shannon, Yu Han en-us 2017-05-08 04:07:20 UTC 2017-07-19 05:07:05 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Growing.png Singapore Inflation Rate efcataphobia https://padlet.com/millenloo/23kqi1vfqzca/wish/170421228 Private road transport inflation also went up to 7 per cent from March's 6.9 per cent, owing to the faster pace of increase in car and petrol prices. This may be due to the increasing cost of production of petrol, leading to an increase in prices. This is known as cost-push inflation. Services inflation also edged up to 1.7 per cent from the previous month's 1.6 per cent. Authorities said this was largely on account of higher telecommunications services fees. This may be caused by the increased demand of telecommunications services, causing the fees to rise. This is known as demand-pull inflation.
The CPI was 0.4% in April, compared to 0.7% in March. Monetary Authority of Singapore Core Inflation came in at 1.7 per cent in April which was higher than the previous month’s 1.2 per cent, this was mostly due to the stronger pickup in the cost of electricity and gas. External inflationary pressures have picked up amid a turnaround in global commodity markets, with global oil prices rose this year as compared to last year (2016) but it would be capped by the elevated inventories and rising US crude oil production.

Source:
http://www.channelnewsasia.com/news/singapore/singapore-s-inflation-rate-dips-in-april-8874864

]]> 2017-05-08 04:12:13 UTC https://padlet.com/millenloo/23kqi1vfqzca/wish/170421228 Singapore GDP britneyseu00 https://padlet.com/millenloo/23kqi1vfqzca/wish/170421596 Singapore's GDP has increased in 2016 by 2%. Hence, the Government expects GDP growth to be at a modest pace of 1 to 3 per cent in 2017.
The faster pace of growth in the final quarter of 2016 was largely due to better performance in the manufacturing and services industries. These mentioned sectors are performing well as as the economy improves, the disposable income of individuals increase, leading to increased demand of these goods and services. For example, one may purchase increased manufactured goods for their family when they have a higher disposable income. These sectors are key to Singapore's economic development as the service industries are a major revenue generating industry, with increasing amounts of people seeking for different types of services. "sentiment on the ground remains downbeat" means that the economy's recovery is still unstable due to the many industries' growth or decline. If the declining industries continue to do so, and the growing industries slow down or even decline as well, the economy will be experience a recession and Singapore's GDP may decrease as a result. "US fed reserve reveals further interest rate hike", impacts Singapore as higher borrowing costs are likely to impact households and business spending and weaken the housing market. This causes the CPI to increase and results in inflation in Singapore. As China is the world's second-biggest economy, the slowdowns will impact Singapore negatively.

Read more at http://www.channelnewsasia.com/news/singapore/singapore-economy-grows-2-in-2016-helped-by-strong-q4-7586978
]]> 2017-05-08 04:18:16 UTC https://padlet.com/millenloo/23kqi1vfqzca/wish/170421596 Unemployment rate in Singapore millenloo https://padlet.com/millenloo/23kqi1vfqzca/wish/170421825 The unemployment rate of Singapore is low in international standards as compared to other countries. However, it is still gradually increasing. The economy has also received buffer provided by a sizable. In Singapore, when foreign workers lose their jobs, they will return to their home country, unlike in other countries where many foreigners are also entitled to stay on in the country without work, adding on to the unemployment rate. The unemployment rate is considered low as in a healthy economy there is still be frictional unemployment as people can be changing jobs or structural unemployment as people might have the skills of another job instead of the job they have currently. Cyclical downturns in industries which render jobs and skills obsolete will also lead to structural unemployment, which is caused by a mismatch in the skills of a worker and those required by an employer. Due to the small and educated workforce, and the thorough planning of economy by the Government, the unemployment rate of Singapore is still considered as low.

Source:
http://www.channelnewsasia.com/news/business/singapore-s-unemployment-rate-how-much-higher-could-it-rise-8818602]]> 2017-05-08 04:22:21 UTC https://padlet.com/millenloo/23kqi1vfqzca/wish/170421825