DBS says Singapore recession inevitable in 2020 due to coronavirus
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SINGAPORE (Reuters) - Singapore's economy will contract by 0.5% in 2020, the city-state's biggest bank DBS said on Thursday, adding a recession was inevitable due to an expected hit from the coronavirus outbreak.DBS's prior estimate was for the economy to grow 0.9%."A recession in Singapore appears inevitable, and we have revised our full year GDP growth forecast for 2020 to -0.5% to reflect the recession scenario," said DBS economist Irvin Seah.The government has already signalled a chance of a..