Singapore Private Sector Growth Accelerates

2026-05-06 00:37 By Chusnul Chotimah 1 min. read

The S&P Global Singapore PMI increased to 57.9 in April 2026 from March’s 56.7, signaling a 15th straight month of private sector expansion and marking the second-strongest growth since July 2022.

Both output and new orders rose at faster rates, while purchasing activity increased at its fastest pace since the data series began in 2012, and delivery times shortened.

However, employment declined for the first time in 2026 so far amid elevated wage inflation and robust recruitment in recent months, while backlogs of work rose at a faster pace.

On prices, input cost inflation is close to March’s record, driven by higher fuel-related costs.

As a result, output cost inflation was among the strongest on record, albeit slightly softer than in March, as firms sought to pass on the cost burden to customers.

Looking forward, business sentiment was the most upbeat on record, supported by strong new business pipelines and planned marketing activities.



News Stream
Singapore Private Sector Growth Accelerates
The S&P Global Singapore PMI increased to 57.9 in April 2026 from March’s 56.7, signaling a 15th straight month of private sector expansion and marking the second-strongest growth since July 2022. Both output and new orders rose at faster rates, while purchasing activity increased at its fastest pace since the data series began in 2012, and delivery times shortened. However, employment declined for the first time in 2026 so far amid elevated wage inflation and robust recruitment in recent months, while backlogs of work rose at a faster pace. On prices, input cost inflation is close to March’s record, driven by higher fuel-related costs. As a result, output cost inflation was among the strongest on record, albeit slightly softer than in March, as firms sought to pass on the cost burden to customers. Looking forward, business sentiment was the most upbeat on record, supported by strong new business pipelines and planned marketing activities.
2026-05-06
Singapore Private Sector Growth Slows
The S&P Global Singapore PMI eased to 56.7 in March 2026 from February’s near-record 59.2, but still signaled a 14th straight month of private sector expansion and remained well above its long-run average. Both output and new orders rose at softer rates, while buying activity slowed to a three-month low. Meanwhile, preproduction inventories rose rapidly, with the rate of accumulation accelerated to a pace not seen since data collection began more than 13 years ago. Hiring remained strong but moderated as backlogs accumulated less sharply. On prices, input cost inflation surged to a survey high, prompting firms to raise output charges at a substantial pace—slightly above February’s record—as businesses sought to protect margins by passing costs to customers. Finally, business sentiment held broadly steady and well above average, supported by strong pipelines and expectations of firmer demand ahead.
2026-04-06
Singapore Private Sector Growth Nears Record Pace
The S&P Global Singapore PMI jumped to 59.2 in February 2026 from 56.8 in January, marking the thirteenth consecutive month of expansion and the second-fastest pace on record, ranked only behind May 2022. New orders rose at the quickest rate in 18 months, supported by stronger domestic and external demand, while output expanded historically fast, led by transport, information & communication. Backlogs climbed at a survey-record pace, prompting the fastest increase in staffing in two years, mostly temporary hires. Purchasing activity and inventories also rose, with firms building safety stocks in anticipation of higher future output. Business optimism reached a five-year high amid expansion plans and public initiatives. Supply pressures intensified, driving input costs up at the steepest rate in two years and output prices to the fastest pace in over three-and-a-half years, well above long-term averages.
2026-03-04