SINGAPORE -- Singapore on Tuesday revised this year's economic growth projection to a range of -5% to -7%, from the previous -4% to -7%, underscoring the prolonged impact of COVID-19 on the city-state's businesses.
Gross domestic product for the April-June quarter -- during which the country was under heightened restrictions -- shrank 13.2% on the year, the government said the same day, worse than the preliminary showing of -12.6%. As the initial data already showed, the country has slipped into a technical recession.
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