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
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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