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Daily Debrief: What Happened Today
Local employment in Singapore grew modestly in 2016, while foreign employment contracted, the Ministry of Manpower said on Thursday.
Singapore's manufacturing output surged 21.3 per cent year-on-year in December, posting its best monthly performance in two years, data from the Economic Development Board showed on Thursday.
The increase in resident unemployment and redundancies in Singapore is a concern, NTUC Assistant Secretary-General Patrick Tay posted on Facebook following the advance release of the 2016 labour report.
The Urban Redevelopment Authority's price index for private homes fell 0.5 per cent in the fourth quarter of 2016 over the previous quarter. This was a smaller decline compared with the 1.5 per cent quarter-on-quarter drop in Q3 2016.
Rents and prices of commercial space in Singapore fell by a faster clip in 2016 compared to 2015, with office vacancies shooting up to a four-year high since Q1 2012.
The STI Today
Bouyed by US President Donald Trump's pro-growth agenda, Singapore shares closed 11.84 points or 0.39 per cent higher at 3,051.78, led by DBS Bank, Singtel and OCBC Bank.