Singapore braces for recession after economy shrinks more than expected in first quarter

Singapore’s economy contracted 2.2 per cent in the first quarter from a year earlier, preliminary data showed on Thursday, with the coronavirus outbreak prompting authorities to downgrade their full-year GDP forecast range to -4 per cent to -1 per cent.Economists had forecast a 1.5 per cent contraction in Singapore, one of the first countries to report quarterly growth data since the virus spread from China at the start of the year.On a quarter-on-quarter basis, GDP contracted 10.6 per cent,…

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