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Singapore's economy unexpectedly contracts 1.1% in Q2 vs. expectations for a gain of 0.6% and...
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Thursday, July 12, 2012, 9:31 PM ETSingapore's economy unexpectedly contracts 1.1% in Q2 vs. expectations for a gain of 0.6% and from Q1's 9.4% expansion. A major shipping hub, the city-state is highly vulnerable to overseas demand, particularly China, but also Europe. The central bank - which uses the exchange rate as its policy tool - has recently been in tightening mode, allowing faster currency gains.
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