Singapore’s economy is still reeling from the blow of the Covid-19 pandemic and the resultant restrictions imposed to curb the spread of infections.

While the economy posed a 7% contraction in flash estimates for 3Q2020 – a significant improvement from the 13.2% plunge seen in 2Q2020 – this is still some 7% below the 0.8% growth registered pre-Covid in 4Q2019 ended December 2019.

See: Persistent uncertainty dials back expectations of strong 3Q rebound

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