DBS economists Radhika Rao and Mo Ji forecast Singapore’s advance 2Q26 Gross Home Product (GDP) progress at 5.8% year-on-year and 1.5% quarter-on-quarter seasonally adjusted, barely under 1Q26 however nonetheless resilient. They cite robust manufacturing and wholesale commerce on AI-related electronics demand, strong fashionable companies and building, and anticipate non-oil home exports to publish a fourth consecutive month of double-digit progress regardless of a slowdown from Might.
AI demand underpins progress outlook
“We anticipate Singapore’s advance GDP progress estimate for 2Q26 to register 5.8% yoy, 1.5% qoq sa, remaining resilient in contrast with 6.0% yoy, 1.0% qoq sa in 1Q26.”
“Manufacturing accelerated, whereas wholesale commerce carried out nicely regardless of some moderation, pushed by strong world demand for synthetic intelligence (AI)-related electronics.”
“Fashionable companies remained resilient, supported by continued momentum within the monetary sector, as securities buying and selling exercise and credit score progress picked up.”
“The continued building increase additionally underpinned home resilience.”
“We see Singapore’s non-oil home exports (NODX) rising at a double-digit fee for the fourth consecutive month, albeit at 25.0% yoy in June, in contrast with 38.4% yoy in Might.”
(This text was created with the assistance of an Synthetic Intelligence device and reviewed by an editor. Know extra.)
