Published Nov 21, 2018 11:34PM ET
Singapore Braces for Slower Growth in 2019 as Trade War Hits
(Bloomberg) -- Trade-reliant Singapore is forecasting weaker demand from key markets in Asia next year, hurting the outlook for economic growth in the city state as the U.S-China tariff war starts to bite.
Growth is seen easing to 1.5 percent to 3.5 percent in 2019 from a projected range of 3 percent to 3.5 percent in 2018, the Ministry of Trade and Industry said in a statement on Thursday. Gross domestic product for the third quarter disappointed, rising an annualized 3 percent from the second quarter and 2.2 percent from a year ago, lower than the government initially forecast.
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(Updates with comment from economist.)
Written By: Bloomberg
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