2Q 2026 GDP - Sector by Sector Analysis

Key Sector Highlights - starkly uneven growth momentum skewed to manufacturing.

Manufacturing (+12.2% YoY, +5.3% QoQ SA) This sector was the star performer, accelerating from 8.0% YoY growth in Q1. On a sequential quarter-on-quarter basis, manufacturing rebounded sharply from a 2.2% contraction in Q1, propelled almost entirely by global AI-related demand for semiconductors and precision engineering equipment.

Construction (+6.2% YoY, -2.1% QoQ SA) Growth in construction normalized to roughly half its Q1 pace (12.9% YoY). Sequentially, the sector slipped into a 2.1% contraction, pulling back from its blockbuster 7.4% QoQ expansion in the previous quarter.

Wholesale & Retail Trade, Transportation & Storage (+6.3% YoY, -0.3% QoQ SA) This service group moderated from a robust 9.3% YoY in Q1. While strong electronics exports buoyed wholesale trade machinery and water transport, sequential growth fell into a slight negative terrain (-0.3% QoQ SA).

Info-Comm, Finance & Professional Services (+3.9% YoY, +1.7% QoQ SA) Extending its 4.5% YoY expansion in Q1, this sector rebounded sequentially from a 3.5% contraction in the previous quarter. Steady corporate demand for digital solutions and stabilized risk appetite in banking supported this growth.

Accommodation, Real Estate, Admin & Other Services (+2.7% YoY, +1.2% QoQ SA) Steady real estate developer activities and resilient healthcare and education services supported this group. However, the food & beverage segment contracted outright due to high operational costs and overseas competition.

Infographics to come next … Stay Tuned!

For the detailed MTI article, see https://www.mti.gov.sg/resources/economic-survey-of-singapore/