Slower wage growth to help ease costs
Singapore
BUSINESS costs for the manufacturing and services sectors are expected to fall this year on the back of moderating wage growth, easing rental costs and lower utilities and fuel-related costs, said the Ministry of Trade and Industry in a study.
This, however, is contingent on productivity growth, which would reduce unit labour costs - a big cost factor for both manufacturers and services firms - that have been consistently increasing in recent years.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Economy & Policy
US-China competition is not worrying, lack of communication is: Gan Kim Yong
Singapore keen on ‘talent exchange’, developing AI ‘guardrails’ with the US
Social cohesion, long-term planning, political stability are imperatives for Singapore: PM Lee
Singapore’s industrial harmony cannot be taken for granted: Ng Chee Meng
Singapore’s employment growth eases in Q1, as tighter foreign worker quotas kick in for construction firms
US-Singapore FTA marks 20 years: a bridge ‘at the right place, right time’