Domestic wholesale trade (seasonally adjusted) rose 1.3% in 2Q2017 over 1Q2017. Excluding petroleum, domestic wholesale trade fell 3.5%. Foreign wholesale trade (seasonally adjusted) decreased 5.0% in 2Q2017 over 1Q2017. Excluding petroleum, foreign wholesale trade dropped 2.9% over the previous quarter.
Non-oil domestic exports decreased 2.5% in Jul 2017 on a month-on-month seasonally adjusted basis, after the previous month’s 2.2% decline.
Retail sales, on a seasonally-adjusted basis, decreased 0.5% in Jun 2017 compared to May 2017. Excluding motor vehicles, retail sales increased 0.1%. Seasonally-adjusted sales of food & beverage services increased 2.1% in Jun 2017 compared to May 2017.
The Singapore economy grew by 2.9% on a year-on-year basis in 2Q2017. Real GDP growth is expected to be ‘2.0% to 3.0%’ in 2017.
Results of the Economic Survey of Singapore, 2nd Qtr 2017 will be released on 11 Aug 2017, 8.00a.m.
An overall net weighted balance of 5% of firms in the services sector projects more favourable business conditions for the period of Jul - Dec 2017 compared with Jan - Jun 2017.
Overall, a net weighted balance of 4% of manufacturers anticipates a favourable business situation for Jul – Dec 2017, compared to 2Q2017.
The Import, Export, Singapore Manufactured Products, Domestic Supply Price Indices fell 1.7%, 1.9%, 1.2% and 1.8% respectively in Jun 2017 over May 2017, due mainly to lower Oil prices.
Employment contracted by 8,400 in 2Q2017, a smaller decline compared to the contraction of 9,400 in 1Q2017.
Prices of private residential properties fell 0.1% while prices of retail space and office space fell 3.2% and 1.4% respectively in 2Q2017 compared with 1Q2017.