SINGAPORE - The Ministry of Trade and Industry (MTI) cut Singapore's growth forecast for 2025 to “0.0 to 2.0 per cent” on concerns that the US-China tariff war could induce a global economic slowdown. This is a downgrade from the 1 percent and 3 percent range previously.  "MTI's assessment is that the external demand outlook for Singapore for the rest of the year has weakened significantly. This has led to a deterioration in the outlook of outward-oriented sectors in Singapore. In particular, the manufacturing sector is likely to be negatively affected by weaker global demand," MTI said on April 14. This, alongside softening global trade, will also weigh on the growth of the wholesale trade sector. The pullback in global trade will similarly dampen the growth of the transportation & storage sector through its drag on demand for shipping and air cargo services, it said.   https://www.straitstimes.com/business/economy/spore-downgrades-gdp-forecast-for-2025-to-0-2-as-us-china-tariff-war-weighs-on-global-growth (ICE SINGAPORE)

Fonte notizia: The Straits Times, 14 April 2025