Singapore's Q2 GDP shrinks 13.2%, worst ever on record

The Singapore economy has suffered its worst quarterly GDP contraction on record. In the second quarter, it declined 13.2 per cent. The revised full-year forecast is now even gloomier, with likely a contraction between 5 as well as 7 per cent. Trade as well as Industry Minister Chan Chun Sing has said that means up to three years of growth will be wiped out.

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