Singapore cuts 2020 GDP outlook again as virus batters economy

SINGAPORE (Reuters) - Singapore downgraded its 2020 gross domestic product forecast for the third time on Tuesday, the trade ministry said, as the bellwether economy braces for its deepest ever recession.The city-state lowered its GDP forecast to a contraction range of -7% to -4% from the prior range of -1% to -4%.Singapore's economy shrank 0.7% year-on-year in the first quarter and 4.7% on a quarter-on-quarter, a less severe decline than advance estimates, although officials and analysts warned..