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Economy

Singapore braces for slower growth in 2019 as trade war hits

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Growth is seen easing to 1.5 per cent to 3.5 per cent in 2019 from a projected range of three per cent to 3.5 per cent in 2018.

Thursday 22, November 2018

(Bloomberg)--Trade-reliant Singapore is forecasting weaker demand from key markets in Asia next year, hurting the outlook for economic growth in the city state as the US-China tariff war starts to bite.

Growth is seen easing to 1.5 per cent to 3.5 per cent in 2019 from a projected range of three per cent to 3.5 per cent in 2018, the Ministry of Trade and Industry said in a statement on Thursday. Gross domestic product for the third quarter disappointed, rising an annualised three per cent from the second quarter and 2.2 per cent from a year ago, lower than the government initially forecast.

TAGS : trade war, Ministry of Trade and Industry

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