SINGAPORE -- Singapore's gross domestic product shrank 3.8% in the October-December quarter from a year earlier, according to preliminary data released on Monday, marking the fourth straight quarterly decline amid the COVID-19 pandemic.
This brings the city-state's full-year contraction for 2020 to 5.8%, versus 0.7% growth in 2019. This is the worst result since independence in 1965, below the 2.2% contraction recorded for 1998 during the Asian financial crisis.
