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14-08-2023, 09:04 AM
SINGAPORE, Aug 11 — Singapore today cut its economic growth forecast for this year owing to weak demand from key export markets including China and the United States.
Among its major export markets, the US economy is “projected to slow more significantly in the remaining quarters of the year as elevated interest rates and a cooling labour market weigh on personal consumption growth”, the ministry said.
Economic growth in the eurozone and China are also forecast to be sluggish for the rest of the year, it added.
https://www.malaymail.com/news/singapore...mand/84680
Among its major export markets, the US economy is “projected to slow more significantly in the remaining quarters of the year as elevated interest rates and a cooling labour market weigh on personal consumption growth”, the ministry said.
Economic growth in the eurozone and China are also forecast to be sluggish for the rest of the year, it added.
https://www.malaymail.com/news/singapore...mand/84680
