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MTI Downgrades 2020 GDP Growth Forecast to "-7.0 to -4.0 Per Cent"

MTI Downgrades 2020 GDP Growth Forecast to "-7.0 to -4.0 Per Cent"

26 May 2020. The Ministry of Trade and Industry (MTI) today revised Singapore’s GDP growth forecast for 2020 downwards to "-7.0 to -4.0 per cent".

Economic Performance in First Quarter 2020

The Singapore economy contracted by 0.7 per cent on a year-on-year basis in the first quarter, a reversal from the 1.0 per cent growth in the previous quarter. On a quarter-on-quarter seasonally-adjusted annualised basis, the economy shrank by 4.7 per cent, a pullback from the 0.6 per cent expansion in the fourth quarter of last year.

Please click here for the full press release.

Economic Survey of Singapore First Quarter 2020

MINISTRY OF TRADE AND INDUSTRY
26 May 2020

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