Those gains could be offset by a bleaker regional outlook with the resurgence of the virus in some countries. "The recovery should gain momentum in the second half of the year, assuming that vaccines will become more readily available and global travel can gradually resume thereafter,” said Irvin Seah, economist at DBS Bank Ltd. in Singapore. "There were upward revisions to all sectors, notably in construction and services,” Khoon Goh, head of Asia research at Australia & New Zealand Banking Group in Singapore, said of the gross domestic product report. "The year-on-year drop in Singapore’s economy in 4Q narrowed much more than initially estimated. "With modern services also likely to do even better this year, I am keeping my fingers crossed that there can be upside surprise” to the government’s growth forecast.

Source: The Star February 15, 2021 04:08 UTC