Economists have significantly lowered their forecasts for Singapore’s GDP and consumer price index (CPI) due to ongoing uncertainties from the global trade war. According to a Bloomberg survey of 13 economists, Singapore’s economy is now expected to grow by only 0.2% year-on-year in the third quarter, a sharp decline from the 1.3% growth predicted earlier in March. This downward revision reflects the vulnerability of Singapore’s export-driven economy to global trade tensions. The reduced forecasts highlight the challenges faced by the Lion City as it navigates a complex international trade environment.
— new from Bloomberg
