Singapore Economy May Fall Into Technical Recession

Bloomberg, 18 Oct 2010
Oct. 18 (Bloomberg) -- Singapore said its economy could experience a technical recession in the second half of 2010 even as the island remains “on track” for an expansion of 13 percent to 15 percent for the full year.
ingapore has remained vulnerable to fluctuations in overseas demand for manufactured goods even after the government boosted financial services and tourism. A 19.8 percent annual rate of decline in the island’s gross domestic product in the third quarter halted a record pace of expansion in the first half, a trade ministry report showed last week. Full story

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