Singapore GDP falls 13.2 per cent in second quarter, as lockdown measures hit economy

Singapore’s recession was deeper than first thought in the second quarter due to coronavirus lockdown measures, and the government said the trade-reliant economy’s path to recovery remained uncertain due to the pandemic.Gross domestic product (GDP) fell 13.2 per cent year on year in the second quarter, revised government data showed on Tuesday, versus the 12.6 per cent drop seen in advance estimates.The economy fell 42.9 per cent from the previous three months on an annualised and seasonally…

from South China Morning Post https://www.scmp.com/news/asia/southeast-asia/article/3096834/singapore-gdp-falls-132-cent-second-quarter-lockdown