economic recession

"Singapore has a more sophisticated electorate, that isn’t afraid to send a signal to the PAP about its displeasure over the government’s performance even when economic worries weigh heavily on their mind,” says market watcher Leonard Lim.

The speed and magnitude of the globally synchronised deterioration in public finances is among the many unprecedented developments over the past six months.

Contrary to over-optimistic markets, the global economy is

The International Monetary Fund downgraded its outlook for the coronavirus-ravaged world economy, projecting a significantly deeper recession and slower recovery than it anticipated just two months ago.

In a letter to employees on Tuesday morning, Grab CEO Anthony Tan said that it has become clear that the pandemic will likely result in a prolonged recession, and Grab has to brace for what may be a long recovery period.

The financial markets reacted to the Covid-19 outbreak with an unprecedented first-quarter drop, then turned around quickly.

The US economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group that acts as the arbiter for determining U.S. business cycles said on Monday.

For veteran economist Song Seng Wun of CIMB Private Bank, this recession is the fourth he has seen in his professional career, and judging from current indications, it is shaping up to be the “most extended”.

We must be prepared for tough times in the months ahead. This is a challenge for this generation of Singaporeans — it is a test of our strength and fortitude, a test of our resilience and unity,” says Heng.

Any resurgence in the number of infections will only worsen the [global economy]. The recent flare up of cases and re-imposition of restrictions in South Korea and parts of China are worrisome,” IHS Markit’s economists.