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DBS expects Singapore 2Q26 GDP to be revised up, with 2026 forecast upgrade

DBS Group Research says stronger manufacturing and services underpin the upgrade, and that Singapore’s government has a high chance to lift its 2026 GDP forecast to 4.0%–5.0% despite downside risks.

Reported · Written up by our desk · Central Banks

DBS Group Research expects Singapore’s final 2Q26 GDP to be revised higher, targeting growth of 5.9% year on year and 1.3% quarter on quarter, seasonally adjusted. The firm attributes the improved outlook to strength in both manufacturing and services, and notes first-half growth running above trend.

According to FXStreet, DBS sees a high probability the government will raise its 2026 GDP forecast to a range of 4.0% to 5.0%. Even with the upgrade, DBS flags significant uncertainty and downside risks.

FXStreet also provides additional market context in the same publication, including comments on GBP/USD and EUR/USD moves tied to investors reassessing US labor data after July’s NFP missed expectations.

Latest closeEUR/USD 1.152 ▼0.3%|GBP/USD 1.345 ▼0.1%

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