global recession

The global economic slump is likely to extend till 2Q2021 as lockdowns continue.

According to Fitch, the global recession, low bond yields and rising geopolitical tensions are expected to support gold prices in the short term, owing to the metal’s safe haven status.

After the US on April 2 reported higher-than-expected job losses, other figures have illustrated how the Covid-19 pandemic is extending the paralysis from producers to households, from big trading powers to more insulated economies and emerging markets.

Analysts at Morgan Stanley have issued a dire warning for the small and open city-state: A full-year GDP contraction is in the pipeline for the first time since 2001.

SINGAPORE (Mar 20): The Covid-19 outbreak serves as a stark reminder that the trajectory of the global economy can swing drastically and with little warning. While the ultimate impact on global GDP is highly uncertain, the Asean+3 Macroeconomic Research O

It is also important to look beyond the immediate crisis because there are likely to be substantial changes to come from this pandemic.

SINGAPORE (Oct 28): “Closing the gaps requires both jobseekers and employers to be more open and flexible.” – Singapore’s Manpower Minister Josephine Teo, on the widening mismatch between job seekers and openings available

SINGAPORE (Oct 24): The risk of a global downturn is high, given the headwinds coming from slowing economic activity, the unresolved trade conflict between the US and China, and geopolitical tensions around the globe.

SINGAPORE (Sept 25): Oxford Economics says there is little chance of a global recession next year given evidence on the ground of a major and sustained worldwide slowdown is still thin.