SINGAPORE - The Singapore economy expanded by 3.2 per cent in the whole of last year, official data released on Friday (Feb 15) showed, slowing from 2017’s 3.9 per cent growth and rounding off a year marked by growing protectionist tensions around the world.
Maintaining its 2019 growth forecast at 1.5 to 3.5 per cent, with growth expected to come in slightly below the mid-point of the forecast range, the Ministry of Trade and Industry (MTI) said these same tensions have increased since the last quarter, with the added threat of a sharper-than-expected China slowdown and a worsening of its trade conflict with the United States dragging down the Singapore economy.