Singapore Close to a Recession as Q4 Estimates Weak, 28 Dec 2012
Singapore likely joined Japan in recession in the fourth quarter of 2012, dragged down by weakness in its top exports of electronics, according to a Reuters poll of economists.
Gross domestic product (GDP) probably shrank by an annualized and seasonally adjusted 1.4 percent in October-December from the preceding three months, the median estimate of six economists showed.
The economy contracted 5.9 percent in the third quarter from April-June at a seasonally adjusted and annualized rate and so another quarter-on-quarter decline would meet the definition of a recession. Full story