PRIME Minister Lee Hsien Loong said on Tuesday the Singapore economy has bottomed out and he does not expect another downturn.

'My sense is that we are out of the trough,' he told a news conference ahead of the summit of 21 Asia-Pacific Economic Cooperation (Apec) economies next weekend.

He said the preliminary 0.8 per cent year-on-year economic growth in the third quarter this year was 'nothing to be proud of, but something to be grateful for'.

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