‘Gradual and uneven’ recovery for Singapore

“Some pockets of the economy may not recover to pre-pandemic levels even by the end of next year, ” the MAS said, noting that Singapore’s travel-related and contact-intensive services are likely to remain depressed.

SINGAPORE: Singapore’s recovery from the Covid-19 recession is likely to be “gradual and uneven, ” with firms and households restraining spending and a recent bounceback in industrial output likely to taper off in coming months, according to its central bank.

While some economies, including Singapore’s, are showing signs of healing in the third quarter, “the near-term rebound is expected to fade to an incomplete recovery, ” the Monetary Authority of Singapore said in its biannual Macroeconomic Review yesterday.