Singapore Economy in Recession

Friday, 10th October 2008

The Singapore is in a technical recession dragged down by a slump in exports and a weak property market. The real recession which usually cause job losses, will probably come 2009 when Singapore feels the full impact of the global economic slowdown. It is Singapore first technical recession since 2002, after the dot-com bubble busted. The week ending 10 October 2008, saw the Singapore Stock Index drop by more than 15% from 6 October 2008.

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