SINGAPORE (Reuters) -Singapore's economy narrowly escaped a recession after posting modest growth in the April to June period, as global demand weakened and China's slowdown dragged on trade. OCBC economist Selena Ling said that while Singapore had escaped a technical recession for now, there was a possibility that final GDP figures for the second quarter could be revised lower due to recent signs of softening growth in China. China's reopening had fuelled hopes for a sustained recovery in commerce and tourism for the region, especially Singapore's export-dependent economy, but demand has weakened in the wake of higher interest rates and strong inflationary pressures.
China News: Southeast Asian nations that were counting on Chinese travelers to drive tourism revenues and their economies post-Covid are finding the flow of visit.
Millions of Chinese Staying Home Shackle Southeast Asian Growth bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.