Singapore enters recession after GDP plummets 41% in Q2

The coronavirus pandemic has put Singapore's economy in recession as its GDP plummeted 41.2% in the second quarter due to the coronavirus pandemic, worse than economists' expectations for 37.4% decline. Singapore reported a 3.3% decline in the first three months of the year. Its economy had contracted by 12.6% in the second quarter at the same time a year ago.