Singapore Shows Strong Signs Of Impending Recession
The wealthy city-state of Singapore could be heading for a recession.
According to CNN, Singapore reported a big drop in economic activity in the second quarter of the year.
It's being hurt by the US-China trade war and is heading for its weakest annual growth since 2009.
Back then, the economy shrunk by 0.6% during the global financial crisis.
Singapore on Tuesday slashed its forecast for GDP growth in 2019 to between 0% and 1%.
#Hong Kong #Ministry Of Trade And Industry #Member States Of The United Nations #International Trade #Economic Growth #United States #Southeast Asia #US-China trade war #annual growth rate #first quarter
By: WOCHIT | 3 weeks ago