 It is Singapore's first recession since 2002 |
Singapore's economy shrank between July and September, confirming it was the first Asian country in recession in the current financial crisis.
The island's economy shrank 6.8% in the third quarter, according to government data, worse than the first estimate of 6.3% the government made last month.
Recession is generally defined as being two consecutive quarters of negative growth.
Hong Kong and Japan have since gone into recession as well.
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