The Economic Times, 10 Aug 2011
Economists said the drop raised the prospect of a second technical recession in three years for export-dependent Singapore, the first Asian economy to suffer negative growth during the last global downturn.
Singapore's export-led economy last sank into a recession in the second-half of 2008 as the US subprime mortgage meltdown pushed the global economy into a downturn.
"Singapore could experience a technical recession with another contraction in the third quarter," Song Seng Wun, a regional economist with CIMB Research, told AFP. Full story
