Bigger Pic: Singapore’s Growth Surge Before CNY, Momentum or Mirage

Singapore heads into Chinese New Year on a festive high, with Q4 2025 GDP expanding nearly 7% year on year and full-year growth beating expectations. However, beneath the headline numbers, questions remain about how much of the surge was powered by AI-driven external demand versus genuine domestic strength. Song Seng Wun, Economic Advisor at SDAX, unpacks the drivers behind the upgrade, the risks and upside factors shaping MTI’s 2% to 4% growth forecast for 2026, and how vulnerable Singapore’s outlook is to global AI investment cycles, trade tensions and geopolitical uncertainty. We also examine why CNY still feels expensive despite easing inflation, and whether the rapid turnover in Singapore’s F&B scene signals renewal or deeper structural strain in the economy. Produced/Presented: Ryan HuangSee omnystudio.com/listener for privacy information.