FX.co ★ Singapore Private Sector Growth Hits 5-Month High

Singapore’s S&P Global PMI rose to 59.2 in July 2026 from 57.4 in June, signaling the strongest expansion since February. Output and new orders continued to grow at robust rates. In response, firms increased employment for a second consecutive month, while purchasing activity expanded at its second-fastest pace on record, surpassed only by June’s peak. Hiring was driven in part by ongoing capacity pressures, as evidenced by the continued buildup of backlogs.

At the same time, average supplier delivery times lengthened for the first time since February, amid customs-related delays and disruptions to shipping routes and port operations. On the cost side, input prices rose sharply, largely reflecting higher purchasing and labor costs. However, output price inflation eased to its lowest level since January. Looking ahead, Singaporean firms remained optimistic about their production prospects over the coming year.