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Singapore's economic corona downturn is without equal

A preliminary assessment reveals that Singapore's economy dropped a whopping 41.2 percent from the first to the second quarter. The drop is expected to increase, although there are signs of improvement.

Photo: ROSLAN RAHMAN/AFP / AFP

Singapore's economy dropped a record 41.2 percent in the second quarter compared to the first three months of the year, reveals a preliminary assessment of the country's gross domestic product (gdp) for April, May and June, published by its Ministry of Trade and Industry Tuesday.

Shutdowns due to the virus pandemic have eroded economic activity in the city-state. Gdp is 12.6 percent lower than for the second quarter last year.

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