You could have fooled me!
It just doesn't look like there's a recession in Singapore, that their people are out of work or they are pulling back on consumer spending. Just look at this image.
Over the weekend: "massive crowds lugging boxes of printers, software and other computer paraphernalia thronged the halls at Suntec Singapore on the final day of The PC Show 2009."By 6pm on Sunday, "over 1.13 million had visited the four-day event - the largest consumer-electronics show here. Gadget fans of all ages parted with about $48 million, on top of the $58.5 million they spent just three months ago at The IT Show, another consumer-electronics fair."
Recession? What recession?
My take is that singaporeans are still flushed with cash from the heady days when stocks, properties and salaries were looking up.Now this pile of cash is actually cushioning the effects of the recession and softening the blow.This mood is not reflective of everyone though, especially the ones employed in the affected sectors who have lost their jobs.
ReplyDeleteIf this recession goes on for a protracted period, the pain will eventually set in.