Singapore residents unfazed over news of economic contraction

CNBC.com, 12 Oct 2012
Singapore's economy may have slumped in the third quarter, but it’s hard to tell from the crowds filling the city’s main shopping district, a booming property market and extremely low levels of unemployment.
However, for majority of the residents in the tiny Southeast Asian nation, the steep drop in growth seems to have had little impact on their daily lives. When asked to describe the how the economic pull-back is impacting them, a common response across a range of income groups is, "What slowdown?"
"There's no sign of a slowdown - there are new shops, bars and restaurants opening literally every week, it's hard to keep up," said 23-year-old Saloni Bhojwani, a business analyst at an international consulting firm in Singapore. Full story

Related:
  1. Singapore's Q3 economic growth contracts by 1.5% - The Hindu Business Line
  2. Singapore Q3 economic growth slows - The Economic Times