Singapore economy contracts 41% on quarterly basis

SINGAPORE (AP) — Singapore’s economy entered recession in the April-June quarter, contracting 12.6% from the same period a year earlier. Preliminary data reported Tuesday showed the economy contracting 41.2% in quarterly terms in April-June as the city-state, heavily reliant on trade and tourism, imposed “circuit breaker” precautions to curb the coronavirus pandemic. An update of […]