Forbes.com, 13 Apr 2009, Reuters
SINGAPORE, April 14 (Reuters) - Singapore's economy contracted a record 11.5 percent from a year earlier in the first quarter of 2009, more than a market median forecast of an 8.8 percent slump, the government's preliminary data showed on Tuesday.
The country's gross domestic product in the first three months of the year fell at a seasonally adjusted, annualised pace of 19.7 percent, the ministry of trade said. In the fourth quarter, the city state's economy contracted 4.2 percent from a year earlier and slumped 16.4 percent in annualised terms.
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