Singapore's economy contracted by 42.9% in the second quarter of 2020 compared to the previous quarter — sending the Southeast Asian country into a technical recession, the Ministry of Trade and Industry said.
On a year-on-year basis, the economy shrank by 13.2% in the quarter ended June 30, according to the ministry.Suhaimi Abdullah | Getty Images The estimate, computed largely from data in April and May, had shown the economy shrinking by 41.2% in the second quarter compared to the prior three months.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: