Nomura economists reported that following a strong fourth-quarter performance, Singapore's GDP growth in 2026 is likely to remain robust. They stated, "Our more positive growth outlook stems from our view that the global tech cycle remains strong, which should boost manufacturing output." Trade-related services sectors are expected to continue being supported by export diversion. A resilient property market, along with the implementation of several major projects including Changi Airport's Terminal 5, will also bolster construction activity. Nomura maintains its forecast for Singapore's 2026 GDP growth at 3.7%, which is lower than the 4.8% increase recorded in 2025.