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Nikkei Markets

Singapore growth forecasts slashed as virus hits key sectors

Contraction expected as economists see more support measures

Singapore retailers have been badly hit by the fall in visitor arrivals, and many have already shortened operating hours and reduced staffing levels to cut expenses.   © Getty Images

SINGAPORE (Nikkei Markets) -- Singapore's economy is expected to shrink by 0.8% in the first quarter as the global spread of COVID-19 disrupts manufacturing supply chains and empties the city-state's hotels and restaurants.

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