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Services 'not strong enough' to mitigate Singapore economy's slowdown
Domestic sectors offer little shelter as global trade woes bite, analysts warn; even promising sectors too small to arrest slide
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Annabeth Leow
Published Tue, Jul 23, 2019 · 09:50 PM
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Singapore
WITH manufacturing caught in the doldrums, Singapore's services sector may seem like a lifeline for optimists hoping for economic growth.
But it is unlikely that services - which fed nearly 70 per cent of last year's nominal gross domestic product (GDP) - could pull enough weight to shelter the Republic from the ongoing pangs of a slowdown, economists told The Business Times.
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