Singapore’s economy contracted a seasonally-adjusted and annualised 6.5 percent in the three months ended in June, better than the 7.8 percent decline in the advance estimate, the government said on Wednesday.
The detailed data came after Prime Minister Lee Hsien Loong said on Monday the economy was likely to expand by 5-6 percent in 2011, compared to an earlier forecast of 5-7 percent.
(Source: CNBC)