Gross domestic product (GDP) grew an average of 4.4 per cent on a quarter-on-quarter seasonally adjusted basis in the second and third quarters – a turnaround from the contraction over the first three months of 2017.”

When inflation is present, a dollar today can buy less than a dollar could in the past.

Sustained and continuous means that prices are increasing steadily over a period of time.

CPI measures the price changes in a fixed basket of consumption goods and services commonly purchased by the resident household over time.

Commonly used as a measure of consumer price inflation
Fixed basket is divided into categories such as food, clothing & footwear, housing, etc.

Headline inflation refers to the overall CPI basket-calculated inflation

Core inflation excludes the cost of private road transport and accommodation from the overall CPI basket so as to reflect the impact on the average person

Value of dollar is determined by its purchasing power, which is the real, tangible goods and intangible services that the dollar can buy

Purchasing power does not stay constant due to inflation

The increase in consumer demand for goods and services is the primary reason that drives demand-pull inflation,

-Cost-push inflation

The increase in the cost of production is the primary reason that drives cost-push inflation

-Nominal income refers to the actual number of dollars received over a period of time (Such as wages)

-Real income refers to the purchasing power of your nominal income

-If the CPI increases and your nominal income remains unchanged, your real income decreases

GDP grew an average of 4.4 per cent on a quarter-on-quarter seasonally adjusted basis in the second and third quarters – a turnaround from the contraction over the first three months of 2017.”

-The global electronics sector has been performing strongly and similarly IT related sector have been performing well since the start of the year, and other industries are also slowly picking up the growth. 

-In all, financial services, retail, and information and communications have improved over the 2nd and 3rd quarters, ->broadening of economic recovery across multiple sectors. 

-MAS noted that this convergence in sectoral performance is likely to continue, resulting in a “smaller degree of growth dispersion across sectors” in 2018, adding on “Sectoral outcomes have been relatively uneven in 2017 as a whole, with strong performers in the IT-related industries helping to shore up weakness in construction and oil-related activities. This divergence is expected to narrow going forward.” 

In addition, other average-performing industries are expected to fare better in the upcoming quarters even as growth stay modest. 

-Lastly, the construction sector, which has been the most underperforming sector for the past few quarters, could possibly see a turnaround in 2018.

Unemployment occurs when a person who is diligently searching for employment is unable to find work. Unemployment is frequently used as a measure of the health of the economy. There are four types of unemployment such as Cyclical, structural, Frictional and seasonal.

Professionals, managers, executives and technicians (PMETs) unemployment and long-term unemployment rate is seeing a positive downward trend. The unemployment rate for PMETs has fell from 3.1 per cent in June 2016 to 3 per cent in June 2017. The long-term unemployment rate has also improved from 0.9 per cent to 0.7 percent.

pay, long workweek and shift work made it unattractive to locals.

This occurrence would not remain the case for long as the labour market has experienced structural unemployment for the last two years and the people who are affected by the industries such as oil, gas, marine and construction which have not recover are using this opportunity to upskill themselves into new areas. Thus, in 2018, it is expected that the overall economy will shift out of its structural unemployment phase.

Whereas long-term unemployment refers to people who have been unemployed for 12 months or more. High rates of long-term unemployment indicate that the labour markets are operating inefficiently.

Economic conditions are influenced by numerous macroeconomic and microeconomic factors such as unemployment levels, exchange rates, inflation and etc…

Economic indicators such as unemployment rate and GDP growth rate and inflation rate are used to show the state of the economy.

As seen in both articles, Singapore’s economy increases its GDP by 4.6 per cent in the third quarter of the year and the employment rate has been increasing. This shows that the economic conditions are positive.

The top components of the exports to China are . Electronic equipment: $18.9 billion 2. Machinery: $4.8 billion 3. Plastics: $4.1 billion.

If China’s economy pullback, it will affect Singapore in great extent. The first reason is Singapore does not have a big domestic market to act as a moderate against China.The second reason is Singapore will have less exports from China as 13% of Singapore exports is from China.

China is not the only country Singapore should be concerned of. After China,Hong Kong is another country Singapore should be concerned of because 12.6% of Singapore exports are belong to Hong Kong. Exporting will affect the economy of Singapore. It is because net exports contribute to economic growth of the countries. Slight change in the exports will affect the GDP of the country. The other countries which Singapore should be concern of are Malaysia, European Union ,USA and Japan.