Singapore's Growth Beats Expectations But Outlook Softens: Monetary Authority

SINGAPORE, Oct 15 (Bernama-Xinhua) -- Singapore's gross domestic product (GDP) grew 3.9 per cent year-on-year in the first three quarters of 2025, outperforming expectations, the Monetary Authority of Singapore (MAS) said in its latest Macroeconomic Review released on Tuesday, reported Xinhua.

The central bank, however, projected a slower pace of expansion ahead. It said the effects of tariffs were becoming more apparent, though some factors could offer partial support to growth.

"Buoyant global AI-related capital spending should provide a base layer of support to the trade-related industries," the authority said. "Domestic manufacturers would be able to continue adjusting prices amid adequate financial buffers, without cutting production significantly."

The MAS noted that global economic activity picked up in the second quarter and remained resilient in recent months, driven by trade front-loading, AI-related investment and generally accommodative financial conditions.

However, some early signs of softness are emerging, it added, pointing to weakening labour markets in advanced economies and slowing export growth in Asia following the implementation and escalation of tariffs since August.  

-- BERNAMA-XINHUA