FX.co ★ Singapore Q2 GDP Growth Revised Higher

Singapore’s economy expanded by 5.9% year-on-year in the second quarter of 2026, easing from a 6.3% increase in Q1—the fastest annual growth since Q3 2024—yet still topping the advance estimate of 5.7%.

Growth was driven primarily by the goods-producing industries, which grew by 10.5%, up from 7.9% in Q1. Manufacturing led the upturn, with output surging 12.5% compared with 7.3% previously. In contrast, construction growth moderated sharply to 5.8%, down from 12.9% in the first quarter.

Services-producing industries expanded by 4.9%, a slowdown from 6.3% in Q1. Growth cooled in wholesale & retail trade and transportation & storage (6.3% vs 9.5%), as well as in accommodation & food services, real estate, administrative & support services, and other services (2.4% vs 3.1%). However, information & communications, finance & insurance, and professional services picked up, with growth accelerating to 5.1% from 4.7%.

On a quarter-on-quarter, seasonally adjusted basis, the economy grew by 1.4%, beating the flash estimate of 1.1% and quickening from a slightly downwardly revised 1.2% increase in the previous quarter.