“A resumption of construction work for the East Coast Rail Link, Light Rail Transit 3 and other mega projects should pull productivity growth back up, starting from the third quarter this year,’’ said Pong Teng Siew, head of research, Inter-Pacific Securities.
The decline in productivity, exacerbated by the current decline in manufacturing worldwide, is causing grave concerns.
Already a problem prior to trade wars, productivity could decline further if recession sets in, possibly caused by trade and Persian Gulf conflicts.
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