Singapore GDP declines

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Singapore . File photo:

Singapore's trade driven economy, regarded as a bellwether for Asia, contracted by 1.1 percent in the second quarter from the previous three-month period, a preliminary government estimate showed Friday.

The unexpected contraction, down from 9.4 percent growth in the preceding quarter, was largely due to a contraction in the biomedical manufacturing industry, the trade ministry said in a statement. - Sapa-AFP

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