Singapore economic growth ion the January to March quarter of 2020

-4.7 % q/q at annualised, seasonally adjusted rate

  • expected -7.4%

-0.7 % y/y

  • expected -1.5%

Singapore's Ministry of Trade and Industry has revised its 2020 GDP growth forecast to -7% to -4%

  • previous forecast -4 to -1 %
  • total merchandise trade 2020 forecast cut to -12.0% to -9.0%
  • NODX forecasts for 2020 cut to -4.0% to -1.0%

Singapore trade ministry says there continues to be significant degree of uncertainty over length and severity of COVID-19 outbreak