Singapore raises 2026 growth forecast to 4.5%-5.5% on AI-related boost
What's new: Second-quarter GDP was revised up to 5.9%, with manufacturing, wholesale trade and finance leading the gain.
Singapore sharply raised its 2026 economic growth forecast on Tuesday, lifting the range to 4.5%-5.5% from 2%-4% after a stronger-than-expected first half. The Ministry of Trade and Industry said the upgrade reflected solid performance in the first six months of the year and support from AI-related sectors and exports. Singapore also revised its second-quarter growth figure to 5.9% from an advance estimate of 5.7%. MTI said manufacturing, wholesale trade, and finance and insurance drove the quarter's expansion. The Business Times reported private-sector economists have also lifted their full-year forecasts, with at least one bank projecting growth above the top of the government's new range.