WORLD Singapore enters recession as economy shrinks 41.2% in Q2

WORLD

Singapore enters recession as economy shrinks 41.2% in Q2

AFP

08:56, July 14, 2020

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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(Photo: VCG)

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