Official data released on Tuesday shows Singapore's economy expanded at a faster-than-anticipated pace in the second quarter, primarily fueled by a robust manufacturing sector.

The country's gross domestic product (GDP) for the April-June period grew by 5.7% compared to the same quarter last year, according to figures from the Ministry of Trade and Industry.

This growth rate surpassed the median economist forecast of 5.5%, though it was slower than the revised 6.3% expansion recorded in the first quarter.

The ministry attributed the second-quarter performance largely to strength in manufacturing, while noting that the pace of growth in the services sector moderated, acting as a drag on the overall figure.

The data release comes as the Monetary Authority of Singapore prepares to announce its quarterly monetary policy decision later this month.

Looking further ahead, the ministry maintained its GDP growth forecast for 2026 in a range of 2% to 4%. However, it cautioned that downside risks have increased significantly, citing the conflict involving the US, Israel, and Iran.