Commercial buildings illuminated at dusk in Singapore, on Monday, Feb. 2, 2026. Photographer: SeongJoon Cho\/Bloomberg via Getty Images<\/p>\n
Bloomberg | Bloomberg | Getty Images<\/p>\n
Singapore’s economy expanded 5.7% in the second quarter, topping market expectations, on the back of strong growth in the manufacturing sector.<\/p>\n
The growth figure was higher than the 5.5% expected by economists polled by Reuters, but lower than the revised 6.3% seen in the first quarter, according to a release from the country’s Ministry of Trade and Industry<\/a>.<\/p>\n The goods sector expanded 10.4% from the 8.4% in the previous quarter, while growth in the services sector slowed to 4.6% from 6.2% in the first quarter.<\/p>\n The advance GDP data comes as Singapore’s central bank prepares to announce its quarterly monetary policy decision later this month. <\/p>\n Instead of using interest rates,\u00a0the city-state manages\u00a0monetary\u00a0policy\u00a0by influencing the Singapore dollar’s value against the currencies of its main trading partners within an undisclosed trading band, known as the\u00a0Singapore\u00a0dollar nominal effective exchange rate, or S$NEER.<\/p>\n The Singapore dollar traded at 1.294 against the greenback, marginally weaker after the data release.<\/p>\n The GDP data also comes as inflation in the city-state held steady at 1.8% in May, its joint-highest level since September 2024. <\/p>\n The MAS said in its CPI release<\/a> that global energy prices remain elevated compared to 2025, forecasting that full-year inflation at 1.5%\u20132.5%.<\/p>\n