Meanwhile, Singapore's savings and investment rates rose among the highest levels in the world, while household consumption and wage shares of GDP fell among the lowest. With Diminishing growth rates, the country again needed to diversify its economy  As a result of this investment drive, Singapore's capital stock increased 33 times by 1992, and achieved a tenfold increase in the capital-labour ratio. Living standards steadily rose, with more families moving from a lower-income status to middle-income security with increased household incomes.  1987: Lee Kuan-Yew claimed that (based on the home ownership criterion) 80% of Singaporeans could now be considered to be members of the middle-class. Under Lee Singapore had both low inflation and unemployment. However, much unlike the economic policies of Greece and the rest of Europe, Singapore followed a policy of individualising the social safety net. This led to a higher than average savings rate and a very sustainable economy in the long run. Without a burdensome welfare state or its likeliness, Singapore has developed a very self-reliant and skilled workforce well versed for a global economy.  "1990s: posed a great question for Singapore, as to how they would reinvent their economy. The 1990s emergence of efficient manufacturing firms in southeast Asia challenge the nation with such a small labor force and land restrictions. Friedrich noted how " it would be "unlikely to expand beyond the current 25% share of the economy," when regarding manufacturing firms." Despite struggling in the manufacturing sector Singapore thrived in global finance, trading, and was an industrial hub for international trade. ""  Singapore's economic strategy produced real growth averaging 8.0% from 1960 to 1999. "Since the nations independence in 1965 Singapore GDP has amassed an average of a 9.5% increase." "T"he economy picked up in 1999 Under Goh Chok Tong, the Prime Minister of Singapore, after the regional financial crisis, with a growth rate of 5.4%, followed by 9.9% for 2000. However, the economic slowdown in the United States, Japan and the European Union, as well as the worldwide electronics slump, had reduced the estimated economic growth in 2001 to a negative 2.0%. The economy expanded by 2.2% the following year, and by 1.1% in 2003 when Singapore was affected by the SARS outbreak. Subsequently, a major turnaround occurred in 2004 allowed it to make a significant recovery of 8.3% growth in Singapore, although the actual growth fell short of the target growth for the year more than half with only 2.5%.