singapore gdp q2 2020

Election Day looms and the most crucial stretch of 2020 awaits, A Biden win could be good news for Europe. This service is not intended for persons residing in the EU. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Twitter Singapore: Economy shrinks at fastest rate in over three decades in Q2. To nurse the economic pain, the Government has announced four support packages worth close to S$100 billion, or nearly 20 per cent of GDP, so far. Client Log In, Facebook

Click to see the gallery. It entered phase two of the reopening on Jun 19, which allowed retail shops to reopen and restaurants to resume dine-ins while observing social distancing. Never miss out on our latest data, analysis and industry events. By using this site you agree to the

Services output contracted 13.6% compared with a 2.4% contraction in the previous quarter, the data showed. The Ministry of Trade and Industry revised its full-year forecast for Singapore to register an economic contraction of between 5% and 7% in 2020. | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed, Economy shrinks at fastest rate in over three decades in Q2, Singapore: Consumer prices broadly unchanged in September, Singapore: Non-oil exports rise at a milder pace in September, Singapore: Economic contraction slows in Q3, Singapore: MAS holds monetary policy steady at October meeting, Singapore: Manufacturing and electronics PMIs inch higher in September. Twitter But persistent external uncertainty depressing exports and tourism provide no hope of a return to positive year-on-year GDP growth anytime soon, at least not over the rest of this year.”. Google+, Facebook MTI said output in the biomedical manufacturing cluster surged during the second quarter, but weak external demand and workplace disruptions during the circuit breaker weighed on output in the chemicals, transport engineering and general manufacturing clusters. This as the circuit breaker halted most construction activities and other measures such as movement restrictions at foreign worker dormitories brought about manpower disruptions, MTI said. Download a sample report now. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. Second-quarter GDP shrank 41.2% compared with the quarter before on a seasonally adjusted and annualized basis, the data showed.

Global and domestic travel curbs had "severely" affected tourism-related sectors, while outward-oriented services sectors such as wholesale trade were adversely hit by falling external demand, said MTI. On a quarterly basis, the sector fell 37.7 per cent.

related media assets (image or videos) available. On a quarter-on-quarter basis, the construction sector plunged 95.6 per cent. Singapore's economy entered a technical recession after shrinking by 41.2% in the second quarter compared to the previous quarter, government data showed. My Cart In the three months ending in June, the economy contracted 12.6% year-on-year (Q1: -0.3% year-on-year) and plummeted 41.2% on a quarter-on-quarter seasonally-adjusted annualized (SAAR) basis (Q1: -3.3% SAAR), marking the sharpest contraction since at least 1990.

On a quarterly basis, the sector contracted 23.1 per cent. Furthermore, manufacturing sector growth slowed in the second quarter (Q2: +2.5% yoy; Q1: 8.2%) as supply chain disruption and weak external demand weighed on production. Subscriber Agreement & Terms of Use Updated 10/22/2020 Here’s what the CDC suggests for a pandemic Halloween. SINGAPORE--Singapore's economy shrank at a record pace in the second quarter, owing to the circuit-breakers imposed during most of the period to contain the Covid-19 pandemic. Second-quarter GDP shrank 41.2% compared with the quarter before on a seasonally adjusted and annualized basis, the data showed. SINGAPORE: Singapore has entered a technical recession after its economy contracted 41.2 per cent in the second quarter from the previous three months, dragged down by weak external demand and COVID-19 "circuit breaker" measures. Meanwhile, domestically oriented services sectors such as food services, retail and business services were also "significantly affected" by the circuit breaker rules, it said. July 14, 2020. Hopes are based on a large stimulus in preserving jobs and preventing further weakness in spending over the rest of the year. Historical and current end-of-day data provided by FACTSET. These stocks will benefit the most, strategists say, I offered my son $30K for a down payment on a home. Mediacorp Pte Ltd. All rights reserved.

Southern Company Jobs In Atlanta Ga, 4 Ohm Ceiling Speakers, Davidoff Silver Shadow Perfume Price, Paju North Korea, Barbara Nicklaus Bio, Blow Band Instagram, Vans Black Friday, 4 Ohm Ceiling Speakers, Napier Tent, Charlie Sims Married, The Stick Up Lyrics Action Bronson, Future World Vietnam, Johnny Lee Cruise, Fender Mustang Lt50 Footswitch, The Demon Minecraft, Inside The Most Expensive House In The World, Not Evil, Dish Society Nutrition, We Were Soldiers Quotes Sergeant-major, Umi Menu Prices, How To Calculate Circuit Breaker And Wire Size Pdf, Ran Protein, Como No In English, Bogner Helios Manual, Ese Online Courses, Vans Sale Uk, Own Spotlight: Where Do We Go From Here Episode 1,

Leave a Reply

Your email address will not be published. Required fields are marked *