Talk about a V-shaped recovery. Singapore’s GDP spiked 20.7% in Q2. It was helped by manufacturing, which shot up a staggering 49.5% sequentially.
Of course, it’s not hard to have a V, when you’re coming off a 18.5% decline in the previous quarter.
This is just one example of why the V-shaped-recovery crowd is so opimistic about what can happen here. When you cut so aggressively on jobs, inventory, etc. it doesn’t take all that much positive leverage to force a major pop.
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