Economists forecast sharp rebound for Singapore's Q3 GDP
But MAS likely to stay put on policy stance, given this year's expected record downturn
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Despite some respite from the relaxation of circuit breaker measures, DBS Bank senior economist Irvin Seah says the services sector continues to struggle, with quite a few retail and food and beverage businesses having closed down and the construction sector continuing to face various restrictions until well into the third quarter.
ST PHOTO: KUA CHEE SIONG
Ovais Subhani Senior Correspondent, Ovais Subhani
A potentially sharp rebound from the gloom and doom of the circuit breaker may prompt a revision of the official full-year growth forecast this week, but experts still think 2020 will go down as Singapore's worst recession.
That expected record downturn also means the Monetary Authority of Singapore (MAS) will maintain its stance of no appreciation of the trade-weighted Singapore dollar at its mid-year policy review tomorrow.
