Economists have sharply cut their forecasts for Singapore's economic growth...
SINGAPORE - Economists have sharply cut their forecasts for Singapore’s economic growth in 2019, citing trade tensions and a slowing China as the top risks to the financial hub, a central bank survey showed on Wednesday.
Singapore’s gross domestic product is expected to increase 0.6% this year, according to the median forecast of 23 economists surveyed by the Monetary Authority of Singapore - down from 2.1% in the last MAS survey in June. Singapore has been hit hard by the Sino-U.S. trade war, which has disrupted world supply chains in a blow to business investment and corporate profits.
That was a slight decline from the government’s advance estimate but deeper than a 2.9% fall predicted in a Reuters poll and a sharp contrast to the robust 3.8% first quarter expansion.
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