Business confidence in Singapore’s manufacturing sector rose to 11 in the fourth quarter of 2025 from 8 in the previous quarter. This marked the highest reading of the year, signaling growing optimism, with the electronics sector (+33) remaining the main driver, buoyed by sustained AI-related demand in the semiconductors segment. Transport engineering (+10) also maintained a positive outlook, supported by strong demand for aerospace maintenance, while biomedical manufacturing (+8) turned modestly optimistic on expectations of higher pharmaceutical exports. In contrast, chemicals (-17) recorded the weakest sentiment amid concerns over macroeconomic uncertainty, weak refining margins and oversupply. Looking ahead, output expectations for Q1 2026 were marginally positive (+6) with most clusters anticipating higher production, while employment levels are expected to remain broadly stable, with the majority of firms planning no significant changes to workforce size. source: Statistics Singapore

Business Confidence in Singapore increased to 11 points in the fourth quarter of 2025 from 8 points in the third quarter of 2025. Business Confidence in Singapore averaged 12.49 points from 1970 until 2025, reaching an all time high of 54.00 points in the first quarter of 1976 and a record low of -57.00 points in the fourth quarter of 2008. This page provides - Singapore Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore Business Confidence - data, historical chart, forecasts and calendar of releases - was last updated on February of 2026.

Business Confidence in Singapore increased to 11 points in the fourth quarter of 2025 from 8 points in the third quarter of 2025. Business Confidence in Singapore is expected to be 10.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Business Confidence is projected to trend around 10.00 points in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-10-31 05:00 AM
Business Confidence
Q3 8.00 5.00 5
2026-02-02 05:00 AM
Business Confidence
Q4 11.00 8.00 9
2026-04-30 05:00 AM
Business Confidence
Q1 11.00 10


Related Last Previous Unit Reference
Bankruptcies 112.00 146.00 Companies Nov 2025
Business Confidence 11.00 8.00 points Dec 2025
Changes in Inventories 1108.50 -1600.10 SGD Million Sep 2025
Leading Economic Index 112.40 109.00 points Sep 2025
Services Sentiment 10.00 2.00 points Sep 2025


Singapore Business Confidence
In Singapore, the Survey of Business Expectations of the Manufacturing Sector covers around 410 manufacturing firms. These companies are asked to assess their expectation of general business conditions, output and employment for the next six months. Provided responses are then weighted by their contribution to employment and value added. The indicator is computed as the difference between the weighted percentage of positive assessments and the weighted percentage of negative responses. The index varies on a scale of -100 to 100; a value of -100 indicates extreme lack of confidence, 0 neutrality and 100 extreme confidence.
Actual Previous Highest Lowest Dates Unit Frequency
11.00 8.00 54.00 -57.00 1970 - 2025 points Quarterly

News Stream
Singapore Business Morale Remains Positive
Business confidence in Singapore’s manufacturing sector rose to 11 in the fourth quarter of 2025 from 8 in the previous quarter. This marked the highest reading of the year, signaling growing optimism, with the electronics sector (+33) remaining the main driver, buoyed by sustained AI-related demand in the semiconductors segment. Transport engineering (+10) also maintained a positive outlook, supported by strong demand for aerospace maintenance, while biomedical manufacturing (+8) turned modestly optimistic on expectations of higher pharmaceutical exports. In contrast, chemicals (-17) recorded the weakest sentiment amid concerns over macroeconomic uncertainty, weak refining margins and oversupply. Looking ahead, output expectations for Q1 2026 were marginally positive (+6) with most clusters anticipating higher production, while employment levels are expected to remain broadly stable, with the majority of firms planning no significant changes to workforce size.
2026-02-02
Singapore Business Confidence Improves in Q3
Business confidence in Singapore’s manufacturing sector rose to 8 in the third quarter of 2025, reflecting a cautious but notable upturn after a reading of 5 in the previous quarter. The electronics sector (+30) was the main driver, buoyed by sustained AI-related demand in the semiconductors segment. The biomedical sector (+11) also turned positive, supported by higher expected orders for pharmaceuticals products. Similarly, transport engineering (+13) remained optimistic, led by strong demand in aerospace maintenance, repair, and overhaul activities. In contrast, precision engineering (-35) posted the weakest outlook as firms reported delayed customer orders amid global uncertainty, while chemicals (-4) stayed subdued due to weak demand and maintenance shutdowns. Meanwhile, output expectations for Q4 turned positive (+7), with most clusters anticipating higher production, though employment levels are expected to stay broadly stable.
2025-10-31
Singapore Manufacturing Sentiment Turns Positive
Business confidence in Singapore’s manufacturing sector came in at 5 in the second quarter of 2025, reflecting renewed optimism after a reading of -6 in the previous quarter. A notable improvement in sentiment was observed in the chemicals sector, which increased to -7 from -22 in the first quarter of 2025. The biomedical manufacturing sector also showed a less pessimistic outlook, improving to -4 from -8. Additionally, sentiment in precision engineering edged up to 4 from 2, while sentiment in the electronics industry turned positive, recovering to 17 from -9. In contrast, sentiment remained neutral in both the transport engineering and general manufacturing industries, following previous readings of 14 and 4, respectively.
2025-07-31