Singapore

THE pace of Singapore's recovery is expected to moderate in the quarters ahead, with this rebound likely to take longer than in past recessions, according to the Monetary Authority of Singapore's (MAS) twice-yearly Macroeconomic Review on Wednesday.

Some pockets of the economy may not recover to pre-pandemic levels even by the end of 2021. In particular, "activity in travel-related and some contact-intensive domestic services could still fall short of pre-pandemic levels until health risks abate". The latter refer to consumer-facing industries such as food services.