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Singapore posts worst recession ever for 2020 but a rebound is in sight

Singapore’s economy contracted less sharply in the fourth quarter of 2020, as business activity continued to pick up and Covid-19 curbs were loosened amid declining infections in the community. The export-dependent city state saw GDP shrink by 3.8 per cent from the same period a year ago, compared to 5.6 per cent in the third quarter, according to advance estimates released by the Trade and Industry Ministry.Overall, the economy, seen as a bellwether for global trade, declined by 5.8 per cent…

Read the original article at South China Morning Post

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