Singapore reported its eighth consecutive month of declining annual exports for the month of may. There are also reports indicating that the total employment growth has slowed and job vacancies have decreased for the fourth consecutive quarter, challenging Singapore's position as the most favourable job market for expats. The data coming in from Singapore over the last few months has raised concerns about the possibility of a recession in the country.

Singapore in a technical recession?

Amid global economic pressures that would hit demand for city-states outward oriented industries like trade and Finance. Singapore forecasts its economic growth would slow down between 0.5% and 0.25% next year from about 3.5% this year.

World Business Watch: Singapore's economic growth slows in Q3, GDP below 4.4%

Singapore’s central bank tightened monetary policy on Thursday (July 14), claiming that this move would decrease inflation as the city-state joins other countries in attempting to combat rising price pressures.

Singapore’s central bank tightens monetary policy to decrease inflation

As one of Asia's largest economy Singapore braises for the deepest ever recession. Singapore has lowered its GDP for forecast over contraction range from -7% to -4%.

Singapore cuts 2020 GDP outlook again: Lowers GDP forecast

Singapore downgraded its 2020 gross domestic product forecast for the third time on Tuesday, a Reuters report said quoting the trade ministry, as the bellwether economy braces for its deepest ever recession.

Singapore slashes 2020 GDP outlook again as city-state stares at deepest ever recession

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Singapore in a technical recession?

World Business Watch: Singapore's economic growth slows in Q3, GDP below 4.4%

Singapore’s central bank tightens monetary policy to decrease inflation

Singapore cuts 2020 GDP outlook again: Lowers GDP forecast

Singapore slashes 2020 GDP outlook again as city-state stares at deepest ever recession