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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

Janice Heng

Janice Heng

Published Tue, Apr 28, 2020 · 09:50 PM
    Uneven impact across manufacturing

    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.

    Singapore economyMonetary Authority of SingaporeCovid-19

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