Singapore's economy shrinks less than expected

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Source: Bloomberg
Singapore's economy contracted less than predicted last quarter. GDP declined an annualized 0.7% in Q2 from the previous quarter, when it grew 9.5, said the Trade Ministry. It beat economists' expectation of a 1.1% contraction. The nation's currency was changed at S$1.2448 per greenback, after gaining 0.2% earlier. It has risen more than 4% this year, the second-best performer among 11 most-traded Asian currencies.
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Fri, 10 Aug 2012 07:40:17 GMT

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