Singapore economy: gradual recovery seen as fourth quarter GDP shrinks less than expected
Singapore’s economy contracted less than initially estimated in the fourth quarter, putting the country on a path to a gradual recovery in 2021 after it marked its worst ever recession last year due to the Covid-19 pandemic.Gross domestic product (GDP) fell 2.4 per cent year on year in the quarter, the Ministry of Trade and Industry said on Monday, versus the 3.8 per cent drop seen in the government’s advance estimate. Analysts had expected a contraction of 3.5 per cent, according to a Reuters…
