The June quarter result came in with a negative result of 0.9%. That means that the economy shrank during the quarter. Most economists had predicted 0.4%. The result was double the most pessimistic projections.
Make no mistake. Shrinkage of 0.9% in three months is a disaster. Especially for a small economy with a growing population whose No 1 export is currently enjoying a booming market and a weak dollar.
