The market generally expects Singapore's economy to grow by 5.5 percent this year. But economists at Nanyang Technological University (NTU) said if the United States goes into a recession, there is a 50 percent chance that Singapore's GDP growth may drop to as low as 3 percent. Generally, consumer demand is expected to slow down this year, whether or not the US goes into a recession. Choy Keen Meng,...
US Recession Impact on Singapore
Senior Minister Goh Chok Tong said on Sunday Singapore has got its economic basics right so even in the face of a looming US recession, the country can cope. And it can also depend on the critical growth in China and India. He was speaking in an interview with South Korea's Arirang TV in Seoul. He said Singapore with its good budget, good economy and strong fundamentals can weather a US recession, even...