FX.co ★ Singapore Private Sector Growth Slows to 4-Month Low

In June 2025, the S&P Global Singapore PMI decreased to 51.0 from 51.5 in May, reaching its lowest point in four months, yet still indicating a fifth consecutive month of expansion in the private sector. Business conditions saw continued improvement, albeit at a reduced rate, as companies trimmed their workforce and reduced inventory levels. A noteworthy development was the shortening of supplier delivery times for the first time in nearly two years, suggesting an alleviation of supply chain constraints. Encouragingly, output growth remained consistent with historical patterns, while new business volumes showed a modest increase. The easing of cost pressures enabled firms to maintain stable selling prices. Business confidence also saw an uptick, hitting a three-month high, as businesses expressed optimism that their expansion plans and supportive government policies would support sustained growth in the year ahead.