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2026-05-27 14:50:15
[Nomura Raises Singapore GDP Forecast: Multiple Growth Engines Remain Resilient, Raises 2026 Growth to 4.6%] (1) Nomura analysts say Singapore’s strong growth is sustainable. Driven by the service and manufacturing sectors, the Ministry of Trade and Industry significantly raised its first-quarter GDP growth forecast, demonstrating the country’s resilience in the face of external headwinds. (2) Despite the Iran war, multiple growth engines will remain intact, partly due to continued global demand for technology and expanding AI-related products boosting electronics production. (3) Nomura raised its 2026 GDP growth forecast from 3.7% to 4.6% and its 2027 forecast from 2.6% to 3.0%. Analysts say domestic sector growth is also likely to remain strong, with robust manufacturing spilling over into the service sector.
