Singapore's economy grew 6.0% in the first quarter of 2026 from a year earlier, government data showed on Monday, higher than an official advance estimate of 4.6%.
On a quarter-on-quarter, seasonally adjusted basis, gross domestic product expanded by 1.0% in the January-March period, compared with an advance estimate of a 0.3% contraction.
The trade ministry maintained its growth forecast for this year at 2.0% to 4.0%, but added that the Middle East conflict has significantly raised downside risks.
The conflict has upended global growth and inflation trajectories, throwing interest rate expectations into disarray. As a small trade-dependent hub, Singapore is especially vulnerable to supply chain disruptions and volatile energy prices.
Inflation data for April will be released on Monday afternoon. In March, core inflation rose 1.7% from a year earlier, and economists expect a similar reading for April.
Last month, the central bank tightened monetary policy due to the risk of the Iran war fuelling inflation. The central bank had held policy steady at its previous three meetings in January, October and July. It had eased policy last April.
The Monetary Authority of Singapore also in April raised core and headline inflation forecasts for 2026 to 1.5% to 2.5%, from 1.0% to 2.0% previously.
