world-economy

Singapore Economy Outperforms in Q1 as Manufacturing Gains Offset Energy Headwinds

Singapore's economy expanded faster than forecast in the first quarter, driven by robust manufacturing and services activity that cushioned elevated crude prices. The city-state's resilience reflects broader regional strength, with neighboring economies also posting better-than-expected growth despite external pressures. Malaysia similarly revised its Q1 expansion upward, supported by steady household consumption. Global energy costs remain elevated following geopolitical tensions in the Middle East. Manufacturing output proved particularly resilient across the region, suggesting sustained demand for goods and services despite inflationary pressures. Economists say the faster-than-anticipated growth signals underlying economic momentum that may influence central bank policy decisions in coming months as policymakers balance growth support against persistent price pressures.