FX.co ★ 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, indicating a further marked improvement in operating conditions. The expansion was chiefly underpinned by continued growth in new orders, supported by robust domestic demand, even as output growth eased to a 10-month low.

The widening gap between output and new orders drove a substantial increase in backlogs, prompting firms to expand their workforce and bringing a two-month spell of job shedding to an end. Companies also stepped up their purchasing activity, enabling them to build input inventories and resulting in an equally sharp rise in pre-production stocks. At the same time, suppliers were largely able to keep pace with demand, as evidenced by a third consecutive monthly improvement in delivery times.

Overall cost inflation climbed to a new survey high, with stronger wage growth more than offsetting a moderation in purchase price inflation. Looking ahead, business confidence for the next 12 months strengthened notably.