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Singapore faces 'high risk' of technical recession amid external uncertainties, say economists

“Although it is not our base case scenario, there remains a high risk that the economy slips into a technical recession, either in (the second quarter) or in the second half of the year,” Mr Shivaan Tandon from Capital Economics told CNA.

“While advanced economies have held up better than initially expected, we expect that resilience to fade in the second half of the year which will weigh heavily on demand for Singapore’s exports,” he added.

“This dynamic raises the risk of a technical recession given the export-driven nature of Singapore’s economy.”

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