Economists from DBS Group Research, JP Morgan, Maybank Kim Eng, OCBC Bank, RHB Group Research and UOB have kept their estimates for 2021’s GDP unchanged after the Ministry of Trade and Industry (MTI) announced that it has upped its growth forecast range to 6% to 7% for the year, from its previous range of 4% to 6%.

See: Singapore's economy grows by 14.7% in 2Q21; 2021 GDP range upgraded to 6% and 7%

DBS’s senior economist Irvin Seah has maintained his growth forecast of 6.3% for 2021, which factors in a slower growth momentum in 2H2021 even as the economy remains “well on track” to meet his current estimate.

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