Singapore's Q2 GDP Growth Surpasses Expectations at 2.9%

Manufacturing sector drives economic rebound, prompting upward revisions in annual forecasts.

Singapore's GDP grew 2.9% year-on-year in Q2 2024, exceeding analysts' predictions.
Manufacturing sector performance was a key contributor to the economic growth.
Economists have revised annual GDP forecasts upward, anticipating growth between 2.8% and 3%.
Quarter-on-quarter growth was 0.4%, slightly up from the previous quarter's 0.3%.
The Ministry of Trade and Industry's advance estimates suggest continued economic recovery.