The first warning shot to the global economy came from Singapore, where Gross domestic product in the trade-reliant city state declined an annualized 3.4% in the second quarter, a plunge from 3.8% in Q1 and far below the 0.5% consensus estimate. This was the biggest drop since 2012.
https://www.zerohedge.com/news/2019-07-12/i-thought-numbers-would-be-bad-ugly-singapore-economy-unexpectedly-tumbles-chinese
