Double-digit GDP drop for Singapore likely in April-June
Analysts note the period coincided with circuit breaker measures, when economic activities were at a standstill
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A faster-than-expected reopening from a near two-month lockdown may have saved Singapore from a deeper recession.
Still, the economy is likely to have suffered a double-digit drop in gross domestic product (GDP) in the April-June period. The negative growth cycle will persist for the rest of the year, but the GDP declines will become smaller in the subsequent quarters.
