Singapore Prime Minister Lee Hsien Loong has hinted that the city state may well avoid a technical recession as the economic growth figures for the second quarter may be revised upwards to positive grounds, local media reported on Wednesday.
The flash figures announced by the Ministry of Trade and Industry earlier showed that the Singapore economy contracted by 0. 7 percent quarter on quarter. The revised figures are expected to be released on Friday.
The flash estimates for the third quarter growth are not expected to be in good shape, as manufacturing and industry output figures already released point to a possible contraction in the third quarter. Full story
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Singapore May Avoid Technical Recession, Says PM Lee - Nasdaq
Singapore Q3 GDP likely shrank but may dodge recession - Business Recorder
