Guardian.co.uk, 21 May 2009, Reuters
SINGAPORE, May 21 (Reuters) - Singapore saw signs on Thursday that its worst-ever recession is bottoming out after its economy shrank less than expected in the first quarter, prompting the central bank to say it is comfortable with its policy stance.
Singapore's economy shrank at an annualised and seasonally adjusted rate of 14.6 percent in the quarter, less than a Reuters median forecast for a 17 percent fall and also lower than preliminary government estimates of a 19.7 percent drop, final data showed.
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