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Economy

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.
Singapore cuts 2019 GDP forecast as first-quarter growth hits decade low
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