Singapore's gross domestic product dropped 13.2 percent on year in the second quarter of 2020, the Ministry of Trade and Industry said in Tuesday's final report.
That was in line with expectations following the upwardly revised 0.3 percent contraction in the three months prior (originally -0.7 percent).
On a seasonally adjusted quarterly basis, GDP plummeted 42.9 percent following the upwardly revised 3.1 percent decline in the first quarter (originally -4.7 percent).
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.