DBS Group: Raises Singapore's GDP Growth Forecasts for 2026 and 2027

DBS Group Senior Economist Chua Han Teng stated that as tensions between the US and Iran ease, Singapore's GDP growth outlook for the second half of the year is optimistic. The country's economy will benefit from improvements in financial markets, corporate and consumer confidence, and there is room for growth in the global AI-driven technology cycle. Major hyperscale cloud service providers' investments in AI infrastructure will drive demand in Singapore for storage chips, server-related products, and semiconductor equipment. DBS Group has raised Singapore's GDP growth forecasts for 2026 and 2027 to 4.3% and 3.0%, respectively.