FX.co ★ Singapore Manufacturing PMI Rises to 5-Month High

Singapore’s Manufacturing PMI rose to 51.0 in May 2026 from 50.7 in April, its highest level since December 2024, and extended the sector’s expansion to a tenth consecutive month. The improvement was underpinned by stronger growth in new orders, export demand, factory output, input purchases, and employment. The future business expectations index also stayed in expansion territory for a seventh straight month, indicating sustained optimism among manufacturers.

The electronics sector—which accounts for around 40% of Singapore’s manufacturing output—continued to strengthen, with its PMI climbing to 51.9 and marking a twelfth consecutive month of expansion. Nevertheless, firms remained under pressure from rising input costs and ongoing supply-chain disruptions, as supplier delivery times lengthened for the fifth month in a row. Even so, growing order backlogs and improving business sentiment suggested that manufacturers remained cautiously optimistic about near-term growth prospects.