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Singapore’s manufacturing recession unlikely to break the back of inflation: Analysts
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Analysts warned that Singapore’s tight labour market has now become the main domestic driver of price increases.
ST PHOTO: KUA CHEE SIONG
SINGAPORE – The tight labour market means that Singapore’s deteriorating economic growth outlook is unlikely to have a significant impact on inflation in 2023.
Most analysts believe that a surprisingly steep double-digit decline in industrial production in May that triggered talk of an impending technical recession will not result in widespread retrenchments.
