The next elections coming after a recession will break the trend in Singapore. Three of the past downturns struck just a year after a general election and one came in an election year.
Thank you, Paul, for pointing that out in your comment on my previous post.
There were elections in 1963, 1984, 1997 and 2001 — and the economy shrank in 1964, 1985, 1998 and 2001.
This is also the first time Singapore has suffered two bad years in a row, with the economy growing only 1.1 per cent in 2008 before shrinking 2.1 per cent in 2009.
All four previous downturns were preceded and followed by good years, according to Singapore Statistics records dating back to 1960.