Expected contraction: A recent picture of the Port of Singapore with the city in the background. Singapore’s economy is expected to have contracted almost 3% in the second quarter, a slight improvement from advance estimates but reaffirming the risk of a possible recession as the trade and manufacturing sectors struggle. — Bloomberg
SINGAPORE: Singapore’s economy is expected to have contracted almost 3% in the second quarter, a slight improvement from advance estimates but reaffirming the risk of a possible recession as the trade and manufacturing sectors struggle.
Final gross domestic product is forecast to have fallen 2.9% on a seasonally adjusted and annualised quarter-on-quarter basis, a Reuters poll showed.
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