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Singapore lowers Q2 GDP growth over tariff war, interest rate hike globally

The Monetary Authority of Singapore in April tightened its monetary policy for the first time in six years

Reuters  |  Singapore 

Singapore's economy grew slower than initial estimates in the April-June period on a quarter-on-quarter basis, revised data showed on Monday, as the government flagged a likely moderation in growth in the second half. The city-state's Ministry of Trade and Industry (MTI) said retaliatory tariffs between the United States and its major trading partners and interest rate increases from central banks globally had tempered the outlook for the export-dependent economy. Gross domestic product grew 0.6 per cent in the second quarter from the previous three months on an ...

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First Published: Mon, August 13 2018. 10:00 IST