U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
Dollar Holds Firm as Markets Weigh Warsh-Led Fed and Yen Weakness Ahead of Japan Election 
BOJ Policymakers Warn Weak Yen Could Fuel Inflation Risks and Delay Rate Action 
Oil Prices Surge Toward Biggest Monthly Gains in Years Amid Middle East Tensions 
Asian Stocks Waver as Trump Signals Fed Pick, Shutdown Deal and Tech Earnings Stir Markets 
China Home Prices Rise in January as Government Signals Stronger Support for Property Market 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
Why Trump’s new pick for Fed chair hit gold and silver markets – for good reasons 
Singapore has raised its economic growth forecast for 2025 after reporting stronger-than-expected GDP performance in the third quarter. Official data showed the economy expanding 4.2% year-on-year in Q3, surpassing both the government’s advance estimate of 2.9% and economists’ median forecast of 4.0%. On a quarter-on-quarter seasonally adjusted basis, GDP grew 2.4%, highlighting continued resilience in the city-state’s recovery.
Following the upbeat results, the Ministry of Trade and Industry (MTI) upgraded its 2025 GDP outlook to “around 4.0%,” significantly higher than its earlier projection of 1.5% to 2.5%. For 2026, MTI expects growth to ease, forecasting an expansion of between 1.0% and 3.0%. Officials attributed the improved outlook to stronger-than-anticipated economic performance among Singapore’s major trading partners during the third quarter of 2025.
However, MTI cautioned that global risks persist. Permanent secretary Beh Swan Gin noted that ongoing trade tensions and a potential slowdown in artificial intelligence-related capital spending could weigh on future growth. While demand for AI services remains solid, he warned that investment could weaken if capital markets deteriorate.
Enterprise Singapore also updated its outlook, narrowing its 2025 non-oil domestic exports (NODX) forecast to “around 2.5%,” supported by robust AI-driven demand and elevated gold prices. For 2026, it expects NODX to grow between 0% and 2%.
In its October review, the Monetary Authority of Singapore (MAS) kept monetary policy unchanged, citing steady growth despite U.S. tariffs. MAS chief economist Edward Robinson said the current policy stance remains appropriate, with a positive output gap anticipated through 2025.
Singapore continues to face tariff-related headwinds, including a 10% U.S. levy on its exports and sector-specific duties such as a pending 100% tariff on branded pharmaceuticals. Authorities previously announced a delay in the implementation of the drug tariff to allow negotiations for potential exemptions.
