Singapore household average incomes, living standards up over five years: survey

Singapore

FAMILIES from all income groups in Singapore are earning more compared to five years ago, and the increases are mostly ahead of the pace of rise for their spending, according to a government survey.

The exception was households in the lowest 20 per cent income group - their expenditure grew 3 per cent a year, while income growth in nominal terms was 2.8 per cent a year. Over a third of these households are headed by people aged 65 and older.