Singapore Private Sector Growth Picks Up in June

2026-07-03 00:44 By Judith Sib-at 1 min. read

Singapore’s S&P Global PMI rose to 57.4 in June 2026 from 56.7 in May, signaling another notable improvement in operating conditions.

The expansion was primarily driven by sustained growth in new orders, supported by strong domestic demand, although output growth slowed to a 10-month low.

The gap between output and new orders led to a significant increase in backlogs of work, which encouraged firms to expand their workforce, ending a two-month period of job shedding.

Companies also increased their purchasing activity, allowing them to build up input inventories, resulting in a similarly sharp rise in pre-production stocks.

In addition, vendors continued to keep pace with demand, as reflected in a third consecutive monthly improvement in suppliers’ delivery times.

Meanwhile, overall cost inflation reached a new survey high, as stronger wage growth more than offset a slowdown in purchase price inflation.

Finally, business confidence for the next 12 months improved noticeably.



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Singapore Private Sector Growth Picks Up in June
Singapore’s S&P Global PMI rose to 57.4 in June 2026 from 56.7 in May, signaling another notable improvement in operating conditions. The expansion was primarily driven by sustained growth in new orders, supported by strong domestic demand, although output growth slowed to a 10-month low. The gap between output and new orders led to a significant increase in backlogs of work, which encouraged firms to expand their workforce, ending a two-month period of job shedding. Companies also increased their purchasing activity, allowing them to build up input inventories, resulting in a similarly sharp rise in pre-production stocks. In addition, vendors continued to keep pace with demand, as reflected in a third consecutive monthly improvement in suppliers’ delivery times. Meanwhile, overall cost inflation reached a new survey high, as stronger wage growth more than offset a slowdown in purchase price inflation. Finally, business confidence for the next 12 months improved noticeably.
2026-07-03
Singapore Private Sector Growth Eases from Near 4-Year Peak
Singapore’s S&P Global PMI eased to 56.7 in May 2026 from April’s near four-year high of 57.9. Still, the latest result marked the 16th straight month of expansion in private sector activity, with output growth accelerating to a three-month high. Meanwhile, new orders rose at the second-strongest pace on record despite cooling from April, underscoring resilient demand. Employment fell for a second month on cuts to temporary staff and voluntary exits, even as firms lifted purchasing at a record pace, with some stockpiling ahead of demand. On prices, input cost inflation hit a survey high, driven by supplier price hikes, rising fuel and transport costs, and a record surge in wages. Purchase cost inflation stayed elevated, its third-highest on record, but firms were less aggressive in passing costs on, with output charge inflation easing to a four-month low though still steep. Finally, business sentiment remained positive but softened from April’s elevated level.
2026-06-04
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