Singapore out of recession?

That’s what Bloomberg is reporting.  With official numbers expected to be reported tomorrow, a report from Bloomberg sees a positive 13.4% annualized growth for the country’s GDP estimated by economists, based on output increase.  This compares to 14.6% drop from January to March.

From Bloomberg:

Singapore’s industrial output climbed in the first two months last quarter, while the decline in the island’s exports narrowed in May amid gains in drug shipments. Manufacturing, which slid 26.1 percent in the three months ended March, accounts for about a quarter of the economy.

Having said that, the country is still expected to contract between 6 and 9 percent this year by its government.  More HERE.

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