Singapore Economy In Record Fall

Singapore’s economy shrank by 19.7% in the first quarter of 2009 compared with the previous three months, its biggest quarterly contraction on record.

Singapore Economy In Record Fall

Todays, 16th April 2009 Singapore Expat News come from “BBC News“.

Official estimates also showed the economy had shrunk by 11.5% compared with the same period a year ago.

The government now expects the country’s GDP to contract by between 6% and 9% this year, much more than the previous estimate of between 2% and 5%.

Singapore has been hit by a fall in exports during the economic downturn.

Read the full story after the link!

Article: Singapore Economy In Record Fall (Read It Here)

Archive: Singapore Expat News (Read All Our News Articles Here)

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