Sunday 11 April 2021
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scmp - 1 month ago

Singapore’s economy is slowly recovering as income and spending tick upwards, DBS data shows

Singapore’s largest bank, DBS, on Tuesday released findings from anonymised customer accounts that show the city state is slowly making its way out of pandemic-induced recession, with the second half of last year showing improvements in income and a rebound in consumption compared with April and May.In May last year, about a quarter of the 1.2 million DBS customers who had salaries credited into their accounts showed pay cuts of more than 10 per cent, but by December only one-fifth were showing…


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