Singapore Avoids Recession with Strong Q2 GDP Growth
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BTCCSquare news:
Singapore's economy rebounded sharply in the second quarter, growing 1.4% on a seasonally adjusted annualized basis—surpassing economists' 0.8% forecast and reversing Q1's 0.5% contraction. Year-over-year GDP climbed 4.3%, fueled by manufacturing resilience as exporters raced to fulfill orders ahead of August's US tariff hikes.
OCBC's Selena Ling attributes the growth to front-loading effects but warns of potential slowdowns post-tariff implementation. The construction sector's 4.4% quarterly surge—a stark recovery from Q1's 1.8% pace—provided additional momentum, easing earlier concerns about a technical recession flagged by the Monetary Authority of Singapore.
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