Singapore on Friday eased restrictions further and reopened pockets of the economy that were suspended due to coronavirus — but retailers are not hopeful the move would do much to lift their already struggling businesses, according to an industry association.
The Southeast Asian economy has been badly hit as measures — both overseas and domestically — aimed at containing the spread of the virus halted much of global economic activity. Singapore’s economy is expected to shrink by between 4% and 7% this year, according to the official forecast.
“Retailers are definitely facing significant financial stress during this period. Whether big or small, they’re actually finding it…