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Quick takes: Despite Singapore’s Q2 entry into recession, MAS may keep policy unchanged

SINGAPORE entered both full-blown and technical recession in the second quarter, according to advance estimates showing a 12.6 per cent year-on-year contraction in gross domestic product (GDP), and a 41.2 per cent quarter-on-quarter contraction. The year-on-year figure was worse than economists’ expectations of a 10.5 per cent fall, and much worse than the first quarter’s 0.3 per […]

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Virus-hit Singapore plunges into recession as economy shrinks 41%

SINGAPORE — Singapore plunged into recession in the second quarter as growth fell 41.2 percent quarter-on-quarter with the trade-dependent economy hammered by the coronavirus, preliminary data showed Tuesday. Year-on-year, the economy shrank 12.6 percent between April and June, according to the data from the trade ministry, as strict curbs were imposed to fight the virus. […]

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