Singapore Q2 GDP grew 5.7% as AI-led manufacturing surged
What's new: The figure beat forecasts, and some economists lifted 2026 growth views to as high as 4.8%.
Singapore’s economy expanded 5.7% in the second quarter from a year earlier, easing from 6.3% in the first quarter but topping economist expectations of 5.5%. Advance estimates from the Ministry of Trade and Industry showed manufacturing growth accelerated to 12.2%, driven by electronics and precision engineering as demand for semiconductors and chip equipment stayed strong. On a seasonally adjusted quarterly basis, GDP rose 1.1%. Construction grew 6.2%, while services growth slowed. MTI said the chemicals cluster contracted because feedstock disruptions tied to the Middle East conflict hit output. After the data, some economists raised their full-year 2026 growth forecasts, with Maybank lifting its view to 4.8% from 4.6%.