Scotiabank forecasts pair of Bank of Canada cuts amid global uncertainty
August 20, 2019Scotiabank forecasts pair of Bank of Canada cuts amid global uncertainty
The US-China trade dispute, weaker global and Chinese economic growth, and the electronics sector downturn have jointly impacted Singapore, says Tuuli McCully, Head of Asia-Pacific Economics at Scotiabank.
SINGAPORE: It has been a challenging year for the global economy and particularly hard for countries that are trade-dependent and deeply integrated into global supply chains.
Singapore’s small, open economy is a prime example of an externally-oriented economy that had a rather demanding year, with its annual output on track to grow by only 0.5 per cent in 2019.
There are several intertwined factors that have contributed to the global growth slowdown and have weighed on Singapore’s trade-related sectors.
Read the full article here.
For more information, please contact:
Director, Head of Asia Pacific Economics