Economic activity is losing steam in Singapore as the city's manufacturers face the fastest increase in wages in five years. Photo: Bloomberg Economic activity is losing steam in Singapore as the city's manufacturers face the fastest increase in wages in five years. Photo: Bloomberg
Economic activity is losing steam in Singapore as the city's manufacturers face the fastest increase in wages in five years. Photo: Bloomberg

Singapore GDP decline blamed on manufacturing exodus

GDP declines surprise 0.8 per cent in second quarter as more companies shift manufacturing operations offshore while labour costs increase

Economic activity is losing steam in Singapore as the city's manufacturers face the fastest increase in wages in five years. Photo: Bloomberg Economic activity is losing steam in Singapore as the city's manufacturers face the fastest increase in wages in five years. Photo: Bloomberg
Economic activity is losing steam in Singapore as the city's manufacturers face the fastest increase in wages in five years. Photo: Bloomberg
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