06.01.202600:58:43UTC+00Singapore Private Sector PMI Drops to 4-Month Low

The S&P Global Singapore PMI decreased to 54.1 in December 2025 from 55.4 in November, marking its lowest point since August. Nonetheless, this figure indicated the 11th consecutive month of expansion in the private sector, continually surpassing the long-term average. Though both output and new orders decelerated slightly, they remained robust. Employment saw a marginal decline for the first time since August, primarily attributed to resignations. Meanwhile, purchasing activity intensified, contributing to a significant inventory build-up as supply chains stabilized after four months of disruptions. Additionally, margin pressures relaxed: output prices climbed following their decline in November, and the rate of input cost inflation reduced. The improvement in supply chain efficiency further facilitated inventory accumulation. Lastly, business confidence rose above the series average, driven by expectations of enhanced output in 2026, fueled by growth plans and new product introductions.