FX.co ★ Singapore Private Sector Growth at 1-Year High

The S&P Global Singapore PMI climbed to 56.4 in September 2025, rising from 51.2 in August, signifying the eighth consecutive month of expansion in the private sector. This marks the most robust growth seen since September 2024, propelled by rejuvenated increases in employment, purchasing activity, and inventories. Despite solid employment growth, backlogs accumulated at the most notable pace in a year. The surge in new orders triggered the first uptick in purchasing activity in five months, yet suppliers' delivery times extended at the steepest rate of the year due to shipment delays. Regarding pricing, input cost inflation accelerated to an eight-month high, with both purchase prices and wage pressures on the rise. Consequently, selling prices increased at the fastest rate since January, as companies passed the higher costs onto their clients. Finally, business sentiment reached its peak in almost a year, buoyed by optimism surrounding rising demand, business expansion strategies, and heightened economic activity.