singapore gdp 2020 q2
The restrictions hurt businesses dependent on domestic consumption at a time when external demand for Singapore goods was also "weak" due to "a global economic downturn precipitated by" the coronavirus pandemic, the ministry said.Here are how the different sectors within Singapore's economy performed in the second quarter:Singapore, a city state with a population of 5.7 million, has reported one of the highest numbers of coronavirus cases in Southeast Asia, according to data compiled by Johns Hopkins University.As of Monday, the country has confirmed more than 46,200 people infections and 26 deaths, according to its health ministry.The coronavirus pandemic, which is one of the biggest threats to the global economy, could drag Singapore into its worst economic recession this year. Consumer prices increased 0.47% in May over the last month, swinging from April's 0.92% drop. Singapore’s GDP Contracted by 2.2 Per Cent in the First Quarter of 2020. Construction output weakened, which led to a stoppage of most construction activities during the period, as well as manpower disruptions arising from additional measures to curb the spread of COVID-19, including movement restrictions at foreign worker dormitories. The rate of contraction should moderate in the second half as the southeast Asian economy re-opens, with the possibility of increased exports and higher pharmaceutical output. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.A general view of the Marina Bay Sands, the ArtScience Museum, the Singapore Flyer and the central business district on June 19, 2020 in Singapore. Comprehensive data revealed that Singapore’s economy contracted at a more moderate pace than expected in the first quarter of the year. On quarter, the services producing industries shrank 37.7 percent, extending the 13.4 percent decline in Q1. SINGAPORE--Singapore's economy shrank at a record pace in the second quarter, owing to the circuit-breakers imposed during most of the period … This page provides - Singapore GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. That’s also worse than the 10.5% forecast by analysts in the Reuters poll. In the three months ending in June, the economy contracted 12.6% year-on-year (Q1: -0.3% year-on-year) and plummeted 41.2% on a quarter-on-quarter seasonally-adjusted annualized (SAAR) basis (Q1: -3.3% SAAR), marking the sharpest contraction since at least 1990.Looking for forecasts related to GDP in Singapore? * Copyright © 2020 Insider Inc. and finanzen.net GmbH By using this site you agree to the
MTI Downgrades 2020 GDP Growth Forecast to "-4.0 to -1.0 Per Cent" 26 March 2020.
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