Singapore building sector seen shrinking 10.3% in 2020

Singapore

SINGAPORE'S construction sector is poised to take a hard hit from the Covid-19 outbreak in the short term, and is now expected to contract sharply by 10.3 per cent this year in real terms, according to Fitch Solutions.

This is down from its previous forecast of a 3.2 per cent contraction, making Singapore the worst-hit market in the Asia-Pacific region, the market insights firm said in a research note released on Wednesday.