Cumulative Growth of Unit Labour and Business Costs and Unit Net Operating Surplus from 2016 to 2024

7 Mr Patrick Tay Teck Guan asked the Deputy Prime Minister and Minister for Trade and Industry in each year from 2016 to 2023 and 2024 on a seasonally adjusted basis, what is the cumulative growth of the overall economy's (i) unit labour cost (ii) unit business cost and (iii) unit net operating surplus, also known as "unit net profit", respectively.

Mr Gan Kim Yong: Data on the (i) growth in unit labour cost for the overall economy and (ii) growth in unit business cost for the manufacturing and services sectors¹ from 2016 to 2023 and in the first two quarters of 2024², are in Figure 1 below. Data on unit net operating surplus is not available.