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THE first quarter of 2003 has been a bad one for stock markets in the United States and Europe, with all major market indices ending the period substantially lower.
B>Singapore:/BThe city-state#8217;s economic outlook, already darkened by the onset of war in Iraq and the impact of a deadly flu-like virus, took another blow yesterday when a key index of new factory orders pointed to shrinking manufacturing output ahead.
Singapore's manufacturing sector expanded in June after three months of contraction, the latest survey of purchasing managers showed, suggesting the economy may be recovering as the impact of the deadly Severe Acute Respiratory Syndrome (SARS) outbreak fades.
The economy of the euro zone and nearly half its member states contracted in the second quarter 2003 but the European Commission expects a recovery in the coming months, reports showed yesterday.