SINGAPORE, Aug 10 (Reuters) - Singapore's economy contracted a seasonally-adjusted and annualised 6.5 percent in the three months ended June, better than the 7.8 percent decline in the advance estimate, the government said on Wednesday.
The detailed data came after Prime Minister Lee Hsien Loong said on Monday the economy was likely to expand by 5-6 percent in 2011, compared to an earlier forecast of 5-7 percent.
On a year-on-year basis, Singapore's economy expanded by 0.9 percent, better than the initial estimate of 0.5 percent.
Economists polled by Reuters had expected the government to report GDP contract 7.8 percent quarter-on-quarter and grow 0.4 percent year-on-year, respectively.
This is an evidence... isn't it ?
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