Weaker than expected: People standing around a reflective installation outside Asian Civilisation Museum in Singapore. Retaliatory tariffs between the United States and its major trading partners and interest rate increases from central banks globally had tempered the outlook for the export-dependent economy. — AFP
SINGAPORE: Singapore’s economy grew slower than initial estimates in the April-June period on a quarter-on-quarter basis, revised data showed, as the government flagged a likely moderation in growth in the second half.
The city-state’s Trade and Industry Ministry (MTI) said retaliatory tariffs between the United States and its major trading partners and interest rate increases from central banks globally had tempered the outlook for the export-dependent economy.
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