Private-sector economists see 5.8% GDP fall in 2020
They see Q2 contraction of almost 12% and expansion of 4.8 per cent in 2021
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Janice Heng
Singapore
PRIVATE-SECTOR economists expect Singapore's full-year gross domestic product (GDP) to decline by 5.8 per cent in 2020, with an 11.8 per cent year-on-year contraction in the second quarter, according to the latest Monetary Authority of Singapore (MAS) survey of professional forecasters released on Monday.
The Covid-19 pandemic has sent expectations south since the previous quarterly survey, when the median forecast by respondents was for full-year GDP growth of 0.6 per cent. But respondents foresee recovery in 2021, with the economy projected to expand 4.8 per cent next year.
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