Singapore’s GDP grew by 5.4% in third quarter of 2026

By Timothy Goh

• Singapore’s economy grew by 5.4% in the third quarter of 2026, slower than 6.2% in the previous quarter, said METI on Oct 14.
• Manufacturing rose 7.5%, while construction grew 8.8% as public and private projects increased. Services also grew, led by wholesale trade, transport, IT, finance and hotels.
• METI said fuller third-quarter GDP data, including inflation, jobs and productivity, will be released in the Economic Survey of Singapore in November 2026.

SINGAPORE – Singapore’s economy grew by 5.4% in the third quarter, moderating from 6.2% in the previous quarter.

On a quarter-on-quarter seasonally adjusted basis, the economy expanded by 1.1%, easing from the 1.5% growth in the second quarter, said the Ministry of Energy Trade and Industry (METI) on Oct 14.

The manufacturing sector grew by 7.5% year on year in the third quarter of 2026, slower than the 12.9% growth in the previous quarter.

The construction sector expanded by 8.8% year on year in the third quarter, faster than the 6.1% growth in the preceding quarter, as both public and private sector construction output increased.

Among the services sectors, the wholesale and retail trade, and transportation and storage sectors collectively grew by 8% year on year in the third quarter, extending the 6.9% growth in the previous quarter.

All sectors within the group expanded during the quarter, except for the retail trade sector.

Growth in the wholesale trade sector was led by the machinery, equipment and supplies segment, which saw strong growth in tandem with the robust increase in electronics exports over the same period.

Meanwhile, growth in the transportation and storage sector was largely supported by the water and air transport segments.

On a quarter-on-quarter seasonally adjusted basis, the wholesale and retail trade, and transportation and storage sectors as a whole grew by 2.2%, improving from zero growth in the second quarter.

The group of sectors comprising the information and communications, finance and insurance and professional services sectors expanded by 4.3% year on year in the third quarter, easing from the 5.1% growth in the previous quarter.

All sectors within the group grew during the quarter.

Growth in the information and communications sector was driven by the IT and information services segment, while that in the professional services sector was largely supported by the architectural and engineering, as well as the technical testing and analysis services segment.

Growth in the finance and insurance sector was led by the fund management and banking services segments.

On a quarter-on-quarter seasonally adjusted basis, this group of sectors expanded by 0.4%, moderating from the 2.8% growth in the second quarter.

Growth in the remaining group of services sectors, comprising accommodation and food services, real estate, administrative and support services, and other services industries, came in at 2.1% year on year in the third quarter, extending the 2.4% growth in the preceding quarter.

All sectors within the group expanded during the quarter, except for the food and beverage services sector.

In particular, the accommodation sector grew on the back of an increase in gross lettings in the higher value-added hotel segments.

On a quarter-on-quarter seasonally adjusted basis, the sectors in this group collectively expanded by 0.6%, easing from the 0.8% growth in the second quarter.

METI said the preliminary GDP estimates for the third quarter of 2026, including performance by sectors, sources of growth, inflation, employment and productivity, will be released in the Economic Survey of Singapore in November 2026.

source: The Straits Times https://www.straitstimes.com/business/economy/spore-gdp-grew-by-5-4-in-third-quarter-of-2026?ref=top-stories