Singapore's economy now is seen growing 0.0%-1.0% this year, down from a previous projection of 1.5%-2.5%, the Ministry of Trade and Industry said Tuesday, with growth expected to come in near the midpoint of the range.
Final second-quarter figures showed gross domestic product contracting an annualized 3.3% from the first three months of the year, versus the previous estimate of a 3.4% contraction.
Singapore's Ministry of Trade and Industry forecast that the economy may face strong headwinds in the year's remainder, while analysts do not exclude the possibility of negative growth.
