4 charts that say still too early to get excited about Singapore's economic rebound

(June 9): Singapore’s economy may be picking up, but consumers aren’t feeling it. 

After two years of below-par growth, economists and even the government are becoming more positive on the outlook. While it's not boom time yet, the consensus is that 2017 growth will come in higher than last year’s 2%. A large part of that is down to exports: Singapore, like other trade-reliant nations in Asia, is benefiting from a recovery in global growth, which is translating into rising sales of electronic goods.

But good news is masking pain on the ground. Consumer spending -- which makes up a third of the economy -- has contracted for two straight quarters, unemployment is rising, wage growth is slowing and household debt is increasing.

---

Related Stories

• Fed signal for rate pause takes pressure off hot jobs report
• Work just doesn't pay for thousands of people in Britain
• Abolish AP for cars — the single most effective solution to reduce living costs

---