Definition: "The technical indicator of a recession is two
consecutive quarters of negative economic growth as measured by a
country's gross domestic product
(GDP)"
From http://www.investopedia.com/terms/r/recession.asp
Since q2 declined by 6% and q3 declined by 6.8%, it fits the
definition of recession above.
Hope I did not read wrongly... getting old....
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First report:- a 6% decline in the June quarter (ie 2nd quarter
of the year) compared to 1st quarter
Source:
A decline in Singapore's main exports for the fourth straight
month has raised prospect of the economy falling into a technical
third-quarter recession. Singapore's non-oil domestic exports
(NODX) in Aug 2008 fell 14% from the same month last year as
shipments for both electronics and non-electronics goods tumbled.
Exports of electronics goods fell 19% year-on-year, continuing a
decline that began in Feb 2007. Non-electronics exports fell 9.6%,
led by pharmaceuticals which were down 45.2%. Shipments to 9 of
Singapore's top 10 NODX markets shrank.
A technical recession is defined as two consecutive quarters of
quarter-on-quarter contractions in the GDP, the total value of
goods and services produced in a country. On an annualised, quarter-on-quarter basis,
Singapore's GDP contracted 6% in the June quarter from the previous
three months. Singapore's economic growth, on a year-on-year basis,
slowed to an annual rate of 2.1% in Q2 2008.
2nd BBC
report:- a 6.8% decline in the 3rd quarter (assumed compared to 2nd
quarter)
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.
hahahaha... you are a good
example of what a religious person should be, kind, unlike me happy
to laugh at fools and their antics.... but unfortunately like chin eng, these
idiots will, after you save them over and over again, they come
back, make a fool of themselves again and again for me to laugh at
them...
