Singapore has upgraded its 2026 GDP growth forecast to "4.5 to 5.5%", up from the previous forecast of "2.0 to 4.0%", following better-than-expected economic performance in the first half of the year. According to MTI, the second-quarter expansion was driven by the strong performance of the manufacturing, wholesale trade, and finance & insurance sectors. The finance & insurance sector also expanded, supported by the banking segment on the back of strong credit growth and fee-generating activities. Services sectors expected to remain resilientAmong outward-oriented services, both the information & communications and finance & insurance sectors are expected to register firm growth. At the same time, finance & insurance expanded 6.2%, followed by information & communications at 5.0%and real estate at 4.6%.