Singapore economy constrained by labour policies, strong currency: Citi strategist
[SINGAPORE] Singapore economy is constrained by its labour policies and a strong currency, Citi Private Bank investment strategist Ken Peng told a media briefing on Friday.
Mr Peng, alongwith the bank's Global Chief Investment Strategist Steven Wieting, was speaking at a conference on key investment themes for the second half of 2015. The conference was held in conjunction with the Bank's Global Investment Outlook Roadshow. "Policies for the local labour market has squeezed growth and profits in the past few years."This has gotten to a point where we're seeing both declines in employment and declines in industrial activity at levels last seen in 2009," Mr Peng said.
Read the full story here.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Economy & Policy
Daily Debrief: What Happened Today (May 3)
Taylor Swift effect: Singapore hotels’ average room rate grows in March; tourist arrivals reach new post-Covid high
Singapore retail sales up 2.7% in March, extending growth
Singapore and Canada to enhance science and technology cooperation
Singapore’s PMI dips in April but remains in expansion for 8th straight month
Daily Debrief: What Happened Today (May 2)