SINGAPORE'S EXPORTS UP... CONFIDENCE DOWN.
The first signs of an economic recovery in Singapore emerged early in the third quarter, but rising export sales did little to boost consumer confidence at home.
If the current spate of layoffs continues, Singapore's unemployment level could reach 5.5 percent by the end of 2002. High unemployment is causing an increasing number of households to put high-end spending on hold. Sectors likely to be hardest hit by the spending slowdown For articles with similar titles, see Slow Down (disambiguation).
A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. include real estate and high-end household appliances. An increasing number of households will opt for repairing existing appliances, thus boosting local demand for repair services and replacement parts.
Demand for non-durables should hold their own, with little change in food preferences likely during 2003. Growth sales of non-durables should be in the range of 1.5 to 3 percent at the end of 2002 and increase only slightly above that range by midyear mid·year
1. The middle of the calendar or academic year.
a. An examination given in the middle of a school year.
b. midyears A series of such examinations. 2003. Real wages will not increase significantly over the upcoming year.
The current mismatch mismatch
1. in blood transfusions and transplantation immunology, an incompatibility between potential donor and recipient.
2. one or more nucleotides in one of the double strands in a nucleic acid molecule without complementary nucleotides in the same position on the other between job skills and industry requirements will drive up demand for occupational training. There is a distinct industrial shift toward the pharmaceuticals and biotechnology sectors but the labor force is still strongly focused on electronics industry skills, making it necessary for part of the work force to retrain re·train
tr. & intr.v. re·trained, re·train·ing, re·trains
To train or undergo training again.
Look for increased demand for equipment used in growing industrial sectors. With the exception of computer components, production equipment will almost universally be sourced overseas. Capital spending capital spending
Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. in new industrial sectors should expand in excess of 15 percent year-on-year throughout 2003. By contrast, demand for capital goods Capital Goods
Any goods used by an organization to produce other goods.
Examples of capital goods include office buildings, equipment, and machinery.
See also: Capital Expenditure, Disinvestment
Capital goods associated with the electronics industry will be sluggish, with growth not exceeding 4 percent.