MTI Revises Forecasts for 2009 GDP Growth to -9.0 to -6.0 Per Cent

The Ministry of Trade and Industry (MTI) announced today that it expects Singapore's GDP to contract by 6.0 to 9.0 per cent in 2009, lower than the contraction of 2.0 to 5.0 per cent that it had forecast on 21 January 2009.

According to MTI, the below are the various economic indicators for Singapore:

GDP:
   - 11.5 % in 1Q 2009   
Total Trade:
   - 22.1 % in Feb 2009
Industrial Production:
  - 22.4 % in Feb 2009
CPI:
  + 1.9 % in Feb 2009

MTI Revises Forecasts for 2009 GDP Growth to -9.0 to -6.0 Per Cent [via]