Singapore: Singapore’s economy grew faster than expected in the first quarter year after year, showed on Thursday, pushing with strong global demand as businesses defeated the high US tariff charge.However, the government warned that negative risks remained as a fully developed trade war between the United States and China, which could rule even after the end of the 90-day break.Singapore’s trade-oriented economy increased by 3.9 percent to march a year ago in three months from the same period, which exceeded the advance government estimate of 3.8 percent.However, it was weaker in five percent of the December quarter.And based on a fourth-by-wage, the economy has a contract of 0.6 percent, indicating further risks.The Ministry of Trade said that the year-on-year growth in the first quarter was operated by manufacturing and wholesale trade sectors due to “front-loading activities before the approximate American tariff hike”.Although US President Donald Trump imposed a 10 percent tariff on Singapore, the city-state is unsafe for a global economic recession due to a lot of levy on dozens of other countries due to heavy dependence on international trade.In April, Trump suspended to implement high tariffs for 90 days, except China, but a recent conversation between Washington and Beijing has hoped that the world’s two largest economies would come on an agreement.The Ministry of Trade said, “Despite positive development in recent weeks, the global economic approach has remained cloudy with significant uncertainty, with risks,” said the Ministry of Trade.The possibility of uncertainty will lead to weak expenses because businesses and families adopt a “waiting-and-look” approach, said.The Ministry maintained its forecast for the economy to grow between zero to two percent this year. It was a downgrade from its previous development forecast between one and three percent.
