Economists at Standard Chartered Bank raise Singaporean 2020 GDP forecast to reflect potentially higher operating level during the ‘circuit-breaker’ period while Q2 growth may be the worst of 2020. USD/SGD is trading at 1.4167, near daily lows. Key quotes “Final Q1-2020 GDP was revised higher to -0.7% from the advance print of -2.2%. The upward revision was driven primarily by a firmer-than-expected manufacturing sector, boosted by robust pharmaceuticals production.” “We raise our 2020 GDP forecast to -6.0% from -9.6%. We also lower our 2021 GDP growth forecast to 8.2% from 10.8% due to a higher base.” “We expect Q2 to be the worst quarter of 2020 for Singapore’s economy given the gradual lifting of local circuit-breaker measures in June, and of lockdowns in other countries in May-June. However, the H2 recovery is likely to be tepid.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Cyptocurrecny Market Update: Bitcoin controlled by bears as long as it stays below $9,000 FX Street 3 years Economists at Standard Chartered Bank raise Singaporean 2020 GDP forecast to reflect potentially higher operating level during the ‘circuit-breaker’ period while Q2 growth may be the worst of 2020. USD/SGD is trading at 1.4167, near daily lows. Key quotes “Final Q1-2020 GDP was revised higher to -0.7% from the advance print of -2.2%. The upward revision was driven primarily by a firmer-than-expected manufacturing sector, boosted by robust pharmaceuticals production.” “We raise our 2020 GDP forecast to -6.0% from -9.6%. We also lower our 2021 GDP growth forecast to 8.2% from 10.8% due to a higher base.” “We expect Q2 to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
