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Singapore escapes technical recession with 1Q growth

Singapore avoided a technical recession as data released on Friday showed the economy grew almost 10 percent in the first quarter, recovering from a slump in the previous three months.

There were initial worries the city-state could be headed for a technical recession, defined as two straight quarters of economic contraction, when gross domestic product (GDP) shrank 2.5 percent quarter-on-quarter in the October-December period.

(Source: Jakarta Globe)