Singapore cuts 2019 GDP forecast as first-quarter growth hits decade low
Updated : May 21, 2019 09:08 AM IST
Singapore's annual economic growth slipped to the lowest in nearly a decade in the first quarter as manufacturing contracted in the wake of a protracted Sino-US trade war.
As broad economic momentum cooled, policymakers downgraded their 2019 growth forecast to 1.5-2.5 percent, from 1.5-3.5 percent previously.
Singapore, like many of its trade-reliant counterparts in the region, has been hit hard by the Sino-US trade war which has disrupted global supply chains in a blow to business investment and corporate profits.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more