News Snippets

Singapore’s economy grows just 0.1 per cent in Q2, lowest in decade and worse than expected

Singapore’s economy performed worse than expected in the second quarter, slowing again after hitting its lowest rate since the global financial crisis in the first three months of this year.

Flash estimates by the Ministry of Trade and Industry pegged Singapore’s economic growth at 0.1 per cent in the second quarter of this year, well below analysts’ expectations of 1.1 per cent according to a Bloomberg forecast.

This is the lowest growth since the economy contracted by 1.2 per cent in the second quarter of 2009 during the Great Recession.

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