The Singaporean economy was 10.1% smaller in the first quarter than it was at the same time last year, with no indication of a turnaround in the near term, according to a statement Thursday by the Ministry of Trade and Industry.
On a quarterly annualized basis, Singapore’s gross domestic product in the January-March period fell 14.6%, with the ministry saying it saw “no decisive indicators of economic recovery.”
At least the US isn’t Singapore.
