Financial News: Singapore Upgrades Growth Outlook

Singapore Upgrades Growth Outlook

11/21/2025 - 02:15:00 (RTTNews)

(RTTNews) - Singapore's economic growth for the current year was upgraded on Friday after the city-state economy posted a stronger-than-expected expansion in the third quarter.

The Ministry of Trade and Industry forecast the economy to grow around 4 percent in 2025, which was revised up from 1.5 percent to 2.5 percent projected earlier. For 2026, the ministry projected the economy to expand 1.0 percent to 3.0 percent.

For the first three quarters of 2025, Singapore's GDP growth averaged 4.3 percent year-on-year.

The upgrade in growth outlook reflects strong front-loading of orders from the US in the second quarter and an improvement in the outlook for Singapore's external demand due to the de-escalation in trade tensions between the US and several of its trading partners.

The MTI observed that global economic conditions have turned out to be more resilient than expected. For the rest of the year, the ministry noted that demand for AI-related electronics should continue to support manufacturing and wholesale trade sectors.

Gross domestic product grew 4.2 percent on a yearly basis in the third quarter, extending the 4.7 percent expansion posted in the previous quarter.

On a quarter-on-quarter basis, GDP expanded 2.4 percent in third quarter, faster than the 1.7 percent expansion in the second quarter.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Singapore Upgrades Growth Outlook (31 min(s), 26 sec(s) ago)
(RTTNews) - Singapore's economic growth for the current year was upgraded on Friday after the ...Full Story»

India Private Sector Growth Eases To 6-month Low (57 min(s), 26 sec(s) ago)
(RTTNews) - India's private sector activity expanded at the weakest pace in six months in Nove ...Full Story»

European Economic News Preview: Eurozone Flash PMI Data Due (02 hr(s), 24 min(s), 26 sec(s) ago)
(RTTNews) - Flash purchasing managers' survey results from the euro area and the UK are the to ...Full Story»

Japan Services PMI Steady At 53.1 - Jibun (34 sec(s) ago)
(RTTNews) - The services sector in Japan continued to expand in November, and at a steady pace, th ...Full Story»

Japan Has Y231.8 Billion Trade Shortfall (10 min(s), 34 sec(s) ago)
(RTTNews) - Japan posted a merchandise trade deficit of 231.8 billion yen in October, the Ministry ...Full Story»

Japan Overall Inflation Climbs 3.0% On Year In October (49 min(s), 34 sec(s) ago)
(RTTNews) - Overall consumer prices in Japan were up 3.0 percent on year in October, the Ministry ...Full Story»

Australia Services PMI Improves To 52.7 In November - S&P Global (49 min(s), 34 sec(s) ago)
(RTTNews) - The services sector in Australia continued to expand in November, and at a faster pace ...Full Story»

Japan Data On Tap For Friday (43 min(s), 34 sec(s) ago)
(RTTNews) - Japan will on Friday release October figures for imports, exports, trade balance and i ...Full Story»