The Economic Times, 11 Aug 2009
INGAPORE: Singapore's economy performed better than estimated in the second quarter, but recovery will be "sluggish" on continued weak demand from the United States and Europe, the government said on Tuesday.
The trade-reliant economy expanded by a seasonally adjusted 20.7 percent in the June quarter from the previous three months, better than the estimated growth of 20.4 percent released last month. The expansion marks Singapore's first quarter-on-quarter growth in five quarters and analysts said this suggests the economy is emerging from its worst recession since independence 44 years ago.
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