Daily Briefing: Singapore passes Thailand on misery index bottom; Exports surge in May

And Singapore slips 4 notches in prime office cost ranking.

Singapore has dropped below Thailand on the so-called Misery Index for the first time since December 2014, meaning the city-state has the lowest combination of consumer-price inflation and unemployment in the world. Singapore’s most-recent CPI rate was negative 0.5 percent and its official jobless rate was 1.9 percent, ranking it 1.4 percent on the misery scale. Read more here.

Singapore exports surged in May on increased pharmaceutical and gold shipments as traders seek a safe haven from market turmoil but analysts warned Friday the surprise jump did not indicate a wider economic recovery. Non-oil domestic exports soared 11.6 percent year-on-year for the month, led by prefabricated buildings, pharmaceuticals and gold, trade promotion body International Enterprise (IE) Singapore said. Find out more here.

Despite the strong demand for office space in key Asian cities, Singapore fell four notches to become the 20th most costliest office destination in the world, said CBRE in its latest Global Prime Office Occupancy Costs report. Notably, occupancy costs in Singapore dropped 13.8 percent to US$94.47 (S$127.5) per sq ft per annum. Read more here.

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