MAS says recession is officially "over"

SINGAPORE - Singapore's worst and longest recession is over. The shrinkage actually ended abruptly on 31 December, the Monetary Authority of Singapore (MAS) said Thursday.

Gross domestic product (GDP) rose 5.6 per cent in the October-to-December quarter, when compared with the previous quarter. Over the whole of 2001, the economy shrank by 2 per cent.

The central bank said that GDP will probably return to its pre-recession peak in the final three months of this year, "about seven quarters after

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