Singapore reviewing 2019 growth forecast as trade war bites

27 Jun 2019 / 13:53 H.

SINGAPORE: Singapore policymakers are reviewing a 1.5-2.5% economic growth forecast for this year as the U.S.-China trade war hits investment, trade and manufacturing in the city-state, central bank chief Ravi Menon said on Thursday.

The Monetary Authority of Singapore (MAS) expects year-on-year economic growth to be weaker in the second quarter than a decade-low 1.2% achieved in the first quarter due to a global slowdown partly caused by trade tensions, Menon said.

"The Singapore economy is in for a rougher ride but is well placed," Menon said in a speech that accompanied the release of the central bank's annual report.

"We need to be alert but there is no need to be alarmed."

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