Singapore Dodges Recession on Tariff-Led Exports, Construction

Singapore’s economy expanded faster-than-expected in the second quarter, avoiding a technical recession on strong manufacturing and services exports, as businesses seek to front-run higher US tariffs.

Gross domestic product grew 1.4% on a seasonally adjusted basis in the three months through June, according to advance estimates released Monday from the Ministry of Trade and Industry, versus a forecast for a 0.8% increase and a revised 0.5% contraction in the first quarter. Construction also drove activity, surging 4.4%, following a 1.8% quarter-on-quarter contraction in the first three months of the year.