Singapore Economy Grows at Slowest Pace in Five Years

Bloomberg.com
10 Jul 2008

July 10 (Bloomberg) -- Singapore's economy expanded at the slowest pace in five years in the second quarter, as manufacturers cut production amid declining orders and accelerating inflation crimped spending.

Gross domestic product increased 1.9 percent from a year earlier, after expanding a revised 6.9 percent in the first three months of 2008, the trade ministry said in a statement today. That was lower than the 3.2 percent median estimate of 18 economists in a Bloomberg News survey.

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