DBS Group Research expects Singapore\u2019s final 2Q26 GDP to be revised up to 5.9% year-on-year and 1.3% quarter-on-quarter seasonally adjusted, driven by stronger manufacturing and services. With first-half growth above trend, the team sees a high chance the government will raise its 2026 GDP forecast to 4.0\u20135.0%, while still highlighting significant uncertainty and downside risks.<\/p>\n
Growth beats trend, forecast upgrade in sight<\/p>\n
“We expect Singapore\u2019s final 2Q26 GDP print to be revised up to 5.9% yoy and 1.3% qoq sa, from the advance estimates of 5.7% yoy and 1.1% qoq sa.”<\/p>\n
“The modestly higher growth figures were driven by a firmer manufacturing outturn than initially reported, alongside a possible upward revision to services growth amid stronger expansion in trade-related services, as indicated by the robust pickup in re-exports in June.”<\/p>\n
“With 1H26 growth tracking well above trend, we see a high likelihood that the government will upgrade its official 2026 GDP<\/a> growth forecast to 4.0-5.0% from 2.0-4.0%, even as it continues to flag high uncertainty and downside risks to the outlook<\/a>.”<\/p>\n