All signs point toward the fact that the United States and our exchange traded funds (ETFs) are getting jostled around in this weakened economy. Some countries could face recession as the global economy tumbles toward a bottom.

In Singapore, predictions are that the country will dip into a recession in the current quarter for the first time since 2002. Exports and manufacturing have slumped, and tourism has fallen off, reports Shamim Adam for Bloomberg. GDP fell 6% in the second quarter from the preceding three months. Data for the third-quarter is expected next month.

If the numbers aren’t good, the country will be in a “technical recession,” defined as two consecutive quarters of negative growth.

iShares MSCI Singapore Index (EWS) may be in for a bit of a slowdown, along with NETS FTSE Singapore Straits Times Index (SGT). EWS is down 32.7% year-to-date; SGT is down 15.8% since its July 22 inception.

Thailand is facing projected growth of 5.1% for 2008, down from 5.6%. Trisanat Kongkhunthian for Thomson Financial News reports that the economy in Thailand is facing a projected gross domestic product of 4-5% for 2009. iShares MSCI Thailand Investable Market Index (THD) could be facing better days, too, if this turns out to be the case. THD is down 37.2% since its April 1 inception.

Last week, Spain unveiled a budget plan that forecasts a slimming deficit and moderate growth. The budget saw growth in this economy, which slid 1% in 2009, from 1.6% in 2008, reports Reuters. The European Commission expects Spain to enter its first recession in 15 years by the end of the year.

iShares MSCI Spain Index (EWP) could be affected, either way. It’s down 29.4% year-to-date.

Tags: Asia, Emerging Markets, EWP, EWS, Frontier Markets, SGT, Singapore, Spain, Thailand, THD