Official 2020 GDP growth forecast revised down to 0.5%

Submitted By:  Staff Reporter Case Study:  No This falls at the lowest end of the earlier official forecast announced last November. Singapore’s official growth outlook for 2020 has been revised downwards to -0.5% to 1.5%, with growth expected to come in at the midpoint of 0.5%, according to the Ministry of Trade and Industry. This comes as the COVID-19 outbreak reversed the expected recovery of the global electronics cycle and the supposed pick-up of economic growth globally. The forecast falls at the lowest end of MTI’s earlier GDP forecast of 0.5% to 2.5%, announced last November 2019. read more