Singapore has further cut its GDP and trade growth projections for 2019, amid continued global economic uncertainty over escalating US-China trade tensions. The Ministry of Trade and Industry (MTI) on Aug 13 downgraded the GDP growth forecast to between 0% and 1%. Growth is expected to come in at around the mid-point of the forecast range. This is the second straight quarter that Singapore has slashed its growth expectations.
SINGAPORE (Aug 19): “We have a history of losses and, especially if we continue to grow at an accelerated rate, we may be unable to achieve profitability at a company level… for the foreseeable future.” — Co-sharing space provider WeWork’s IPO prospectus, in which it disclosed full-year net losses of US$1.9 billion for 2018, up from 2017’s US$900 million.
Singapore slashes growth forecasts as economy stalls
