Economy
Retail sales rise 1.1% YoY in March with broad segment gains
Retail sales rise 1.1% YoY in March with broad segment gains
Excluding motor vehicles, retail sales were up 0.7% compared to the 6.5% contraction the previous month.
Investor appetite for gold remains strong in Q1
In contrast, jewellery consumption saw a 20% YoY decrease to 1.7t.
PMI slows in April to 49.6
The decline marks the first contraction after 19 months of expansion.
Trump’s trade reboot clouds APAC outlook, CRE holds for now: report
APAC entered 2025 with economic momentum: Q1 GDP growth came in at 3.9%, matching pre-Trump levels.
RHB expects Singapore inflation to stay muted through 2025
The report forecasts headline inflation at 1.6% and core inflation at 1.1% for the year.
Tripartism remains bedrock of SG’s progress: Manpower minister
From 2019 to 2024, real wages at the 20th percentile grew 5.8%, outpacing median wage growth.
Re-centering of Singapore dollar policy band possible later in 2025, says analyst
Weak inflation and growth could push MAS to shift the currency band lower later this year.
Singapore at risk for technical recession in H1—analyst
GDP Growth in the second quarter will likely contract by 2.4%.
MAS flags sharp downside risks from US-led trade shocks
It noted that approximately 55% of Singapore’s domestic exports to the US are now subject to the 10% tariff.
Singapore braces for tariff fallout, seeks US sectoral carveouts
Talks are underway to secure special arrangements for critical exports.
Industrial production falls for second consecutive month
General manufacturing and transport engineering posted declines.
Indonesia turmoil squeezes Singapore retail margins
Currency volatility, inflation, and political risk are hitting Singaporean consumer-facing businesses the hardest.
RHB cuts GDP forecast to 2% amidst tariff risks
RHB analysts recommended a shift in portfolio allocations toward sectors offering stability and resilience.
MAS mulls review of framework for liquidity risk management
Regulatory bodies have called to strengthen the industry’s resilience.
MAS to maintain policy settings—analysts
Both banks cite weak global demand and subdued prices as reasons for the expected pause.
Inflation hits four-year low of 0.5% in March
CPI-All Items inflation came in at 0.9% y-o-y in March, unchanged from the month before.
Singapore, Fiji strengthen ties amidst global uncertainty
The two countries will deepen cooperation in trade, investment, and connectivity.
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Commentary
SG60: What the next 10 years have in store for Singapore’s investment landscape