Ten months into the Covid-19 pandemic, Singapore's economy remains depressed. The Government has adopted extraordinary measures to deal with the crisis, and they have helped. But more may be needed, both to cushion the pain and to hasten the recovery.
We have seen a turnaround from the lockdown-induced trough in the second quarter, when the economy contracted by 13.3 per cent year on year. For Q3, the advance estimates show seasonally adjusted quarter-on-quarter growth was 7.9 per cent.