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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (55702)	11/16/2001 2:44:28 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Friday November 16, 11:02 AM Singapore economy seen contracting into 2002 sg.news.yahoo.com SINGAPORE (Reuters) - Recession-hit Singapore's third quarter gross domestic product (GDP) numbers released on Friday signal the economy is unlikely to recover at least until the second half of next year, analysts said. The 5.6 percent contraction in the economy posted for Q3 was unchanged from a flash estimate released by the Ministry of Trade and Industry on October 10. The flash estimate was largely based on the two months before the September 11 attacks on the United States. "I suppose the headline number showed things didn't deteriorate much further post 9/11, so that must be seen as mildly encouraging," said Song Seng Wun, economist at GK Goh Securities. "But I think the full impact of that will be felt only in the fourth quarter." The third quarter data also represented the second consecutive quarter that the Singapore economy has contracted.