Economy may be on the path to recovery

Visitors entering Universal Studios Singapore on July 4, about a month after the economy started reopening. Domestically, the dim outlook over a full resumption of tourism, weak retail sales and rising unemployment will continue to weigh down growth in th
Visitors entering Universal Studios Singapore on July 4, about a month after the economy started reopening. ST PHOTO: GIN TAY
Ovais Subhani Senior Correspondent
Updated
Jul 15, 2020, 10:02 AM
Published
Jul 15, 2020, 05:00 AM
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The double-digit decline in second-quarter economic growth could mark the beginning of the end for Singapore's worst recession.

Analysts believe the economy may have already hit rock bottom and is now on the path to recovery, but the depth of the decline means growth will remain in negative territory through the year.

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A version of this article appeared in the print edition of The Straits Times on July 15, 2020, with the headline Economy may be on the path to recovery. Subscribe

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