Monetary Authority of Singapore comments in their latest economic review

  • Wages to bear brunt of the coronavirus shock
  • Downside risks remain to economic forecast
  • Economy could contract by more than official forecast of -1% to -4% this year

I think that is pretty much the case for all countries, not just Singapore. We are all very much tagging along with virus developments and depending on how things go - whether better or worse - it will surely impact the economic outlook.