It would be nice to see more shocks such as this. Reuters:
Singapore's economy has leapt out of recession, expanding in the second quarter at its fastest rate in nearly 6 years, thanks to a surge in biomedical production and construction.
Gross domestic product for the April-June period rose at an annualized and seasonally adjusted rate of 20.4 percent, versus a median forecast in a Reuters poll of 16.4 percent and the first rise after four consecutive quarters of contraction, preliminary government data showed on Tuesday.
From a year earlier, GDP fell 3.7 percent as manufacturing and service industries continued to contract, the data showed. That compared with expectations for a fall of 5 percent.
Analysts remained cautious over the data and questioned its sustainability given volatility in Singapore's drugs output and a weak global outlook, but said other export-dependent Asian
economies were also likely to see improved second quarters.
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