The S&P Global Singapore PMI rose to 56.4 in September 2025, up from 51.2 in August, marking the eighth consecutive month of private sector expansion. It was also the strongest growth recorded since September 2024, driven by renewed increases in employment, purchasing activity, and inventories. Despite solid employment growth, backlogs accumulated in September at the most pronounced pace in a year. Higher new orders led to the first rise in purchasing activity in five months, while suppliers’ delivery times lengthened at the sharpest rate year-to-date due to shipment delays. On prices, input cost inflation accelerated to an eight-month high, with both purchase prices and wage pressures rising. As a result, selling prices increased at the fastest pace since January, as firms passed on higher costs to clients. Lastly, sentiment strengthened to its highest level in just under a year, amid hopes of rising demand supported by business expansion plans and increased economic activity.
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