Today-Mar 20

A DBS bank economist is projecting that Singapore’s economy may contract 0.5 per cent for the full-year of 2020, making him the second private-sector economist to expect a recession to hit the trade-reliant economy. Published in a research note on Thursday (March 19), the most recent forecast by Mr Irvin Seah, a senior economist at DBS, is also his second downgrade in less than two months.  In February, Mr Seah lowered the 2020 growth forecast for Singapore from 1.4 per cent to 0.9 per cent due to the negative economic impact from the Covid-19 outbreak.  Last week, economists Chua Hak Bin and Lee Ju Ye of Maybank projected Singapore’s economy to contract by 0.3 per cent for 2020.

Read more at https://www.todayonline.com/singapore/singapore-expected-go-full-year-recession-gdp-forecast-downgraded-twice-2-months-dbs