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Singapore : Office Snapshot - 1Q 2013

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Singapore : Office Snapshot - 1Q 2013

Singapore’s economy grew by 1.5% quarter-on-quarter in fourth quarter 2012, improving from the flat growth recorded in the third quarter. For the whole of 2012, GDP grew by 1.3%, a sharp moderation from the 5.2% in 2011 which largely can be pinned down to the stagnant manufacturing sector. The main office-using sectors expanded by 2.2% in 2012, largely supported by business services; growth in the finance and insurance industry, at just 0.5%, was anemic. The overall unemployment rate stayed at 2.0% while inflation, at 4.6% in 2012, remains elevated.

Source : Cushman & Wakefield

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