SINGAPORE ECONOMY
Singapore’s inflation may have peaked but price pressures remain, with growth also slowing in 2023
Singapore – Inflation has already peaked here, although prices will stay elevated into the new year before coming down in 2024, say economists. But there is still pain ahead, with DBS Bank senior economist Irvin Seah noting that it will be a “rough ride for some of us as the economy moves into a soft patch next year”
https://www.straitstimes.com/business/singapore-s-inflation-peaked-in-october-but-price-pressures-remain-with-growth-also-slowing-in-2023
Tipping Singapore into a recession to ease labour market tightness would be a very bad idea
Singapore’s labour market tightness – and accompanying wage pressures – has been so persistent that some wonder if it can only be cured by the economy entering a recession. But wishing for a recession is too drastic a response – it is, after all, possible to ease labour demand without going to that extreme.
https://www.businesstimes.com.sg/singapore/economy-policy/tipping-singapore-recession-ease-labour-market-tightness-would-be-very-bad
GLOBAL ECONOMY & GLOBAL REAL ESTATE
Global growth to be as weak next year as 2009, IIF forecasts
https://www.businesstimes.com.sg/international/global-growth-be-weak-next-year-2009-iif-forecasts
High mortgage rates push UK first-time buyers towards rental market: Rightmove
https://www.businesstimes.com.sg/property/high-mortgage-rates-push-uk-first-time-buyers-towards-rental-market-rightmove
China’s Covid infections hit record as economic outlook darkens
https://www.businesstimes.com.sg/international/chinas-covid-infections-hit-record-economic-outlook-darkens
China’s local governments face squeeze from US$2t in debt
https://www.businesstimes.com.sg/international/chinas-local-governments-face-squeeze-us2t-debt
China fashion tycoon to sell HK$500m prime Hong Kong office
https://www.businesstimes.com.sg/property/china-fashion-tycoon-sell-hk500m-prime-hong-kong-office
Chinese developers rally on prospects of additional financing
https://www.businesstimes.com.sg/property/chinese-developers-rally-prospects-additional-financing
China state banks pledge at least 270b yuan to builders
https://www.businesstimes.com.sg/companies-markets/banking-finance/china-state-banks-pledge-least-270b-yuan-builders
https://www.straitstimes.com/business/china-state-banks-pledge-at-least-52-billion-to-property-developers
Consumer inflation in Japan’s capital rises at fastest pace in 40 years
https://www.businesstimes.com.sg/international/consumer-inflation-japans-capital-rises-fastest-pace-40-years
https://www.straitstimes.com/business/consumer-inflation-in-japan-s-capital-rises-at-fastest-pace-in-40-years
https://www.channelnewsasia.com/business/japan-tokyo-core-consumer-prices-inflation-rises-fastest-annual-pace-40-years-3099856