Friday, November 21, 2008

Singapore in Recession

by Calculated Risk on 11/21/2008 01:57:00 AM

From MarketWatch: Singapore falls into recession, cuts 2009 outlook

Singapore became the third major Asia-Pacific economy to fall into recession after data released Friday showed the economy had contracted for two straight quarters.
The contraction, which followed a revised 5.3% fall in the second quarter from the first, means Singapore technically follows Japan and Hong Kong into recession.
Pretty soon it will be easier to list the countries NOT in recession ...