Singapore posts 5.9% Q2 GDP growth, raises full-year forecast
Singapore's economy grew 5.9% year-on-year in the second quarter, outpacing expectations. The strong reading prompted the government to raise its full-year growth forecast.
Singapore's economy expanded 5.9% year-on-year in the second quarter, according to official data, coming in above market expectations and signaling stronger-than-anticipated momentum for the city-state.
Following the robust reading, the government raised its full-year growth forecast, with officials saying the revision reflects the current pace of economic activity.
Singapore's trade- and finance-heavy economy remains sensitive to shifts in regional and global demand. Analysts say they will be watching closely to see whether the growth momentum can be sustained through the coming quarters.
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