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Singapore GDP grows 5.7% in second quarter, outpacing forecast but easing from first quarter
The Apex Times

THE APEX TIMES

International/The Apex Times/Jul 13, 8:28 PM EDT

Singapore GDP grows 5.7% in second quarter, outpacing forecast but easing from first quarter

The city-state’s economy expanded 5.7% year over year in the second quarter, beating an expected 5.5% pace but cooling from a revised 6.3% in the first quarter, according to reporting on the latest national accounts.

2 min readEditor-approved Apex article

Singapore’s economy expanded 5.7% in the second quarter compared with the same period a year earlier, surpassing economists’ expectations of 5.5% growth, but the pace marked a slowdown from the revised expansion in the first quarter, CNBC reported on July 14.

The revised first-quarter figure was 6.3%, higher than the earlier reading referenced in the report, meaning second-quarter growth, while still positive and above forecast, represented a moderation in momentum.

CNBC’s report framed the changing growth profile against a backdrop of international disruptions, citing the impact of the Iran war as beginning to take hold in Singapore’s economy during the quarter.

The results come as Singapore continues to measure its performance in a global environment where shipping, energy inputs, and trade flows can shift quickly with geopolitical events, even when domestic policy settings remain unchanged.

Even with the second-quarter beat versus forecasts, the gap between the revised 6.3% first-quarter pace and the 5.7% second-quarter pace suggests that some tailwinds present earlier may have faded, or that external pressures became more visible over time.

For businesses and households, the data add another quarter to the pattern of growth that is resilient enough to exceed expectations but sensitive enough to cool when international conditions deteriorate.

The next set of national accounts for Singapore will determine whether the moderation continues, steadies, or reverses, and will offer additional detail on which parts of the economy are most affected by external shocks.

Why It Matters

  • The quarter’s timing matters for how investors and planners assess whether economic momentum is strengthening or cooling.
  • A slowdown from a revised first-quarter pace can affect business decision-making and hiring plans even when growth remains above forecasts.
  • External conflict-related pressures can carry into small, trade-dependent economies like Singapore through costs and demand shifts.
  • The data provide an updated baseline for monitoring how quickly geopolitical shocks transmit to regional growth.

Sources

Key Facts

  • Singapore’s economy grew 5.7% year over year in the second quarter.
  • Economists expected 5.5% growth for the second quarter.
  • The first-quarter growth figure was revised up to 6.3%.
  • Second-quarter growth beat expectations but eased compared with the revised first quarter.
  • CNBC linked the quarter’s economic conditions to impacts from the Iran war taking hold.