Posts in tag

Recession


Months of COVID-19 restrictions have placed a huge strain on Singapore’s economy, shrinking by 41.2% quarter-on-quarter drop. With two consecutive contractions,  Singapore has entered a technical recession. Among the most heavily affected in Singapore is the manufacturing sector. In May 2020, the sector’s output diminished by 7.4% year-on-year. This contraction, according to the Ministry of …

The world is about to experience the deepest recession in decades, World Bank forecasts reveal. The shocks due to  COVID-19 pandemic are expected to plunge the global economy into the worst recession since the second world war, the World Bank reveals in its Global Economic Prospects report published last week. Deep recession The World Bank’s …

With the Dow having closed in bear market territory last Wednesday, it’s worth looking at where the global economy is now compared to the last time it was in such turmoil. The global financial crisis of 2008 was sparked by the implosion of the subprime mortgage market in the United States, which gradually became a contagion …

If the deaths caused by the recent COVID-19 outbreak aren’t already enough, there are escalating fears that this will also drive economies to recession. Why would this happen? Simply put, the outbreak involves one of the most powerful economies: China. Such a central figure in terms of sheer power can easily drag down other economies …