Singapore is at risk of a technical recession in the first half of 2025, with second-quarter gross domestic product (GDP) expected to contract by 2.4% on a seasonally adjusted quarter-on-quarter basis, said Barnabas Gan, group chief economist and head of market research at RHB. Gan said March’s industrial production number suggests Q1 GDP to slow to 3.6% YoY. “Our key conviction is for Singapore's GDP momentum to decline further into Q2 2025. In line with our full-year GDP growth of 2%, Singapore's Q2 2025 GDP is expected to grow by +0.6% YoY against Q1 2025 GDP growth of 3.6% YoY. The downside in global growth, coupled with Singapore's position as a price taker and export-oriented economy, will mean the economy to see weakness in externally facing sectors, especially in the export and manufacturing activities,” Gan said. https://sbr.com.sg/economy/news/singapore-risk-technical-recession-in-h1-analyst (ICE SINGAPORE)

Fonte notizia: Singapore Business Review, 29 April 2025