Singapore s economy rose 4.3% year-on-year in the second quarter, better than market expectations

According to data collected by Bloomberg, economists' median forecast for my country's economic performance in the second quarter is a year-on-year increase of 3.5% and a month-on-month increase of 0.8%.

The Ministry of Trade and Industry pointed out that since the US tariff policy is not yet clear, there are still huge uncertainties and downward risks in the global economy in the second half of this year.

Singapore's economy grew by 4.3% year-on-year in the second quarter, better than market expectations. The Ministry of Trade and Industry reminds that since the US tariff policy is not yet clear, there are still huge uncertainties and downward risks in the global economy in the second half of this year.

Manufacturing, construction and services expanded by 5.5%, 4.9% and 4.1% year-on-year respectively in the second quarter. After seasonal adjustment, it expanded by 0.1%, 4.4% and 1.4% month-on-month.

The Ministry of Trade and Industry estimates that in the first half of this year, my country's economy will grow by 4.2% year-on-year.

According to the preliminary estimate data released by the Ministry of Trade and Industry on Monday (July 14), after seasonal adjustments, my country's economy expanded by 1.4% month-on-month in the second quarter, reversing the contraction of 0.5% in the first quarter.