Strategy: Citi advises investors to pay close attention to signs of a technical recession in Singapore's Jul/Aug GDP data and notes "clearer signs" of job market softening in the city-state, with job creation in the first half amounting to just 9,600, down sharply from the 56,000 jobs created in the same period last year. It estimates at least 20,000-25,000 jobs need to be created each year to prevent the resident unemployment rate from rising. It adds policymakers in Singapore will likely watch closely any sharp rise in the unemployment rate among citizens ahead of the elections, expected in Sept.
Singapore on Thurs said the nation's jobless rate edged up to 2% in the second quarter from 1.8% in the first quarter.
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