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Pandemic knocks Singapore into recession as GDP plummets 41% in Q2

Christian Fernsby |
Singapore plunged into recession in the second quarter with a record contraction.

Topics: SINGAPORE   

Gross domestic product (GDP) dived by a record 41.2% in the three months ended June, on a quarter on quarter annualised basis, preliminary data from the Ministry of Trade and Industry showed on Tuesday.

That was worse than economists’ expectations for a 37.4% decline in the quarter when Singapore was under a lockdown to curb the spread of the virus. ■

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