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Investing.com -- Singapore has revised its official 2025 GDP forecast range upward to 1.5-2.5% from the previous 0-2% projection, following better-than-expected economic performance in the first half of the year.
The Ministry of Trade and Industry (MTI) reported that second-quarter GDP was revised slightly higher to 4.4% year-over-year, an increase of 0.1 percentage points from earlier estimates and in line with consensus expectations.
In sequential terms, the economy rebounded with 1.4% quarter-over-quarter growth on a seasonally adjusted basis in Q2 2025, following a 0.5% contraction in the first quarter.
Despite the upward revision to the full-year forecast, MTI cautioned that economic growth is expected to moderate in the second half of 2025, with growth risks tilted to the downside.
Bank of America noted that the "latest (less benign) growth outlook was already incorporated into MAS Jul policy decision," adding that the output gap for 2025 is now expected to average +0.03% of potential output, compared to -0.5% in April. The bank also indicated that the output gap is turning less negative toward the end of 2025 than previously anticipated.
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