After Germany enters recession, fears in Singapore of 'Technical Recession'
Singapore, May 26 (ANI): After Germany entered recession, Singapore fears slipping into a 'technical recession' in the second quarter as the country's exports outlook weakened following a slowdown in global demand, Channel NewsAsia (CNA) reported citing economists.
Singapore's economy is heavily dependent on exports, which has been weakening after several agencies earlier forecasted a slowdown in global economies in 2023.