Singapore’s Ministry of Trade and Industry published its revised forecast for the county’s GDP growth in 2011. According to the report the overall growth is expected to reach 5% instead of 6% expected previously.
The forecast was downgraded because of the revised data for Q2 2011, when the GDP nearly hit the zero level. Singapore’s GDP for Q2 (y/y) declined by 6.5% down to the lowest level seen in 5 years. Full story
