Singapore cuts 2025 GDP forecast on US tariff impact

Quick Summary:

SINGAPORE: Singapore has lowered its 2025 economic growth forecast to a range of 0.0 to 2.0 per cent, citing the impact of new United States (US) tariffs on global trade and the economy, as well as the country's first-quarter performance.

It added that the spike in uncertainty may lead to a larger-than-expected pullback in economic activity as businesses and households adopt a "wait-and-see” approach before making spending decisions.

Consequently, there are substantial downside risks to the global economy.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaSingaporeUnited States

Topics: Economy US tariffs MTI Economy GDP Ministry of Trade and Industry /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-14 @ 10:30:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 467 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 27854238

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 38 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 22 minutes ago

Coverage Areas: Malaysia

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Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #22

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