GDP contraction to worsen in Q2 on Covid-19 impact: MAS
Singapore's full-year growth could come in below official forecast range of -4 to -1 per cent, adds central bank
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Singapore
SINGAPORE'S gross domestic product (GDP) is likely to contract more sharply in the second quarter than in the first, given the severity of the Covid-19 pandemic abroad and strict measures at home, said the Monetary Authority of Singapore (MAS) in Tuesday's Macroeconomic Review.
Apart from the external blow to electronics and oil-related manufacturing, modern services is likely to suffer, as will private consumption.
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