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Singapore Shows Strong Signs Of Impending Recession

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Singapore Shows Strong Signs Of Impending Recession

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%.

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