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Singapore allows currency gains as GDP beats estimates

Posted on 14 October 2013

Singapore’s central bank maintained its commitment to currency appreciation after the economy shrank less than estimated last quarter, forgoing stimulus as labor shortages and record home prices fuel inflation.
Gross domestic product fell an annualized 1 percent in the three months through September from the previous quarter, when it expanded a revised 16.9 percent, the trade ministry said in a statement today. The median in a Bloomberg News survey of 13 economists was for a 4 percent contraction………………………………………..Full Article: Source


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