A user sent in a link to an article on BBC, which may worry some people as Singapore’s economy shrank for the first time in three quarters in the last three months of 2009:
Singapore’s economy shrank for the first time in three quarters in the last three months of 2009.
Weaker manufacturing helped the economy shrink by an annualised rate of 6.8% in the fourth quarter of the year, the island’s government said.That compares with a 14.9% rise in the third quarter, following Singapore’s deepest recession on record.
However, the economy still grew by 3.5% when compared with the same three-month period in 2008.
Over 2009 as a whole, the economy shrank by 2.1%.
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