The Magical Place Where GDP Growth Is 22.5%, And Unemployment Is 1.9%

port of singapore

[credit provider=”PSA Singapore” url=””]

There’s a magical place posting ridiculously strong economic numbers right now.Last night it reported Q/Q GDP growth of 22.5%. Unemployment is down to 1.9%.

That place? Singapore.

Now granted, the 22.5% is a little bit misleading, because it bounces around a lot from quarter to quarter, but annualized growth is still 8.3%. And that 1.9% unemployment reading is real.

What fuelled the huge GDP growth?

Blistering growth in Manufacturing, transportation, hotels/restaurants, you name it.

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