SINGAPORE, Oct 9 (Reuters) - Singapore Prime Minister LeeHsien Loong said the country may avoid a technical recession inthe third quarter due to an upward revision of economic growthfigures for the April-June quarter, local media reported onTuesday.
"I think that the second quarter numbers may look a littlebetter than the first estimates. So you might technically avoida technical recession," the Straits Times website quoted Lee assaying.
Singapore reported a seasonally adjusted and annualised 0.7percent quarter-on-quarter contraction in second quarter grossdomestic product and economists expect the government to reportanother decline in GDP for the July-September quarter, pushingthe country into a recession.
(Reporting by Kevin Lim; Editing by Kim Coghill)
Keywords: SINGAPORE ECONOMY/RECESSION