Forbes.com, 9 Apr 2009, Reuters
SINGAPORE, April 9 (Reuters) - Singapore's economy may have contracted by a record 8.8 percent in the first three months of 2009, reflecting a collapse in exports and the bursting of bubbles in its credit markets, real estate and investment, analysts said.
Economists expect Tuesday's preliminary first quarter gross domestic product data to show a bleak picture for the trade-dependent city-state, predicting a contraction of between 10.0 and 7.3 percent from a year earlier, with the median at -8.8 percent according to a Reuters survey.
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