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Singapore economy grows just 0.1% in Q2, lowest in decade and worse than expected

2019-07-12 09:50:21       source:The Straits Times

July 12, 2019

SINGAPORE - Singapore's economy performed worse than expected in the second quarter, slowing again after hitting its lowest rate since the global financial crisis in the first three months of this year.

Flash estimates by the Ministry of Trade and Industry (MTI) pegged Singapore's economic growth at 0.1 per cent in the second quarter this year, much below analysts' expectations of 1.1 per cent according to a Bloomberg forecast.

This is the lowest growth since the economy contracted by 1.2 per cent in the second quarter of 2009 during the Great Recession.

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