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Singapore Dollar: Strong Singapore growth supports SGD against US Dollar – Commerzbank
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Commerzbank analysts highlight that Singapore’s final Q2 GDP was revised up, lifting H1 growth to 6.1% year-on-year and prompting MTI to raise its 2026 GDP forecast to 4.5–5.5%.
Upgraded GDP backs Singapore Dollar"The economy expanded by 6.1% yoy in H1, prompting the Ministry of Trade and Industry (MTI) to raise its full-year growth forecast to 4.5-5.5% from 2.0-4.0%.
MTI cited “better-than-expected performance” of the economy in H1 and an improved H2 outlook, supported by a further acceleration in global AI-related capital expenditure."
"Enterprise Singapore also raised its 2026 non-oil domestic export (NODX) growth forecast sharply to 14-16% from 3-5% previously.
"By sector, manufacturing growth was revised up to 12.5% yoy from the advance estimate of 12.2%, accelerating from 7.3% in Q1.