Singapore

PRIVATE-SECTOR economists expect Singapore's full-year gross domestic product (GDP) to decline by 5.8 per cent in 2020, with an 11.8 per cent year-on-year contraction in the second quarter, according to the latest Monetary Authority of Singapore (MAS) survey of professional forecasters released on Monday.

The Covid-19 pandemic has sent expectations south since the previous quarterly survey, when the median forecast by respondents was for full-year GDP growth of 0.6 per cent. But respondents foresee recovery in 2021, with the economy projected to expand 4.8 per cent next year.