Singapore is heavily trade-dependent, second only to Luxembourg in trade-to-gross domestic product terms, and is usually seen as a leading indicator for how other nations are likely to perform. Photo: Reuters
Singapore economy tipped for recession as US-China trade war slams imports, exports, manufacturing
- Second quarter growth in the city state confirmed at minus 3.3 per cent on a quarterly basis, down from 3.8 per cent growth in the first quarter of 2019
- ‘With everything that we are seeing, it is quite possible that there will be a recession in the third quarter of the year,’ said Coface economist Carlos Casanova
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Singapore is heavily trade-dependent, second only to Luxembourg in trade-to-gross domestic product terms, and is usually seen as a leading indicator for how other nations are likely to perform. Photo: Reuters
