World News: 04:21 GMT Friday 12th July 2019. [Yahoo Business News Feed via SPi World News]
Singapore reported dismal preliminary second quarter growth data on Friday, including the slowest pace of annual expansion in a decade, raising bets that a recession and monetary policy easing could be coming. The quarter's 0.1% gross domestic product (GDP) expansion was below the 1.1% forecast in a Reuters poll and the slowest annual growth since 2009's second quarter, when it fell 1.2%. 'It is quite disastrous... way below even the worst street forecasts,' said Selena Ling, head of treasury and strategy at OCBC Bank.
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