Singapore labour productivity rose for third straight quarter
Labour productivity in Singapore rose for a third straight quarter in the first three months of this year, led by the manufacturing sector.
The latest Economic Survey of Singapore shows productivity rising 0.9 per cent in the first quarter from a year ago.
That's up from the 0.8 per cent pace posted during the third and fourth quarters last year.
Vishnu Varathan is Senior Economist at Mizuho Bank.
"It is encouraging that there has been productivity growth. The word of caution here is we cannot assume that the similar base of growth will endure for the rest of the year practically given the external headwinds as well. But the good news is that we will probably see some of our productivity goals being attained in the next 3 to 5 years horizon so at least we're on track for that. "
Productivity in manufacturing led the pack, up 8.8 per cent, but for construction, it declined for the seventh consecutive quarter, dropping 0.4 per cent.
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