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Singapore growth beats expectations, lifting 2026 forecast
Standard Chartered raised its 2026 GDP outlook to 4.9% from 3.9%, citing AI-linked demand and machinery and equipment investment boosting H1 growth.
Standard Chartered economists Edward Lee and Jonathan Koh pointed to stronger-than-expected Singapore growth, saying first-half GDP rose 6.1% year on year as AI-related demand offset drag from the energy sector, according to FXStreet.
They noted the Singapore government lifted its 2026 growth forecast to a 4.5% to 5.5% range, while Standard Chartered raised its own 2026 GDP forecast to 4.9% from 3.9%.
The economists also expected growth to moderate in the second half of 2026, partly due to less favorable electronics base effects, with private investment in machinery and equipment contributing 1 percentage point to H1 GDP growth, the outlet said.