Singapore's personal disposable income growth slows in Q1

摘要：Singapore's personal disposable income rose by 5.2 percent year-on-year in nominal terms in the first quarter of 2025, easing from

Singapore's personal disposable income rose by 5.2 percent year-on-year in nominal terms in the first quarter of 2025, easing from the 9.9 percent increase recorded in the previous quarter, according to data released by the Singapore Department of Statistics on Monday.

The growth was supported by the compensation of employees, the department said.

Personal saving expanded by 6.7 percent year-on-year in the first quarter, a marked slowdown from the 19.6 percent increase in the fourth quarter of 2024.

In this context, personal saving refers to the difference between personal disposable income and private consumption expenditure on goods and services. The department noted that this definition differs from the common understanding of "saving," which often refers to the amount of money deposited in bank accounts.

Instead, this measure of personal saving reflects the funds available for purchasing financial or non-financial assets, or for repaying debts.

The personal saving rate, namely the share of personal saving out of personal disposable income, declined to 36.7 percent in the first quarter of 2025, down from 37.6 percent in the previous quarter.

Source: Xinhua