Singapore’s PMI April 2025

According to data from S&P Global, Singapore’s Purchasing Manager’s Index (PMI) reached 52.8 in April, above the 50-point threshold that separates growth from contraction.

Business conditions in Singapore’s private sector improved for the third consecutive month in April 2025 according S&P Global, reaching its highest level since November 2024.

The upturn was driven by stronger inflows of new business, which led to increased output. In response to higher demand, companies also raised their purchasing volumes and inventory levels.

However, Employment continued to decline, extending an ongoing trend of job cuts. The reduced workforce contributed to rise in outstanding workloads, suggesting growing operational strain.

At the same time, average selling prices fell for the first time since January 2021, as input cost increases softened. This decline in prices reflects efforts by businesses to stimulate sales amid weaker confidence in trade and global economic conditions. Despite the rise in orders, firms remain cautious, focusing on cost control and risk management rather than expanding their workforce as the second quarter of 2025 begins.

In its latest outlook, the International Monetary Fund estimated Singapore GDP growth rate to be 2 per cent in 2025.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest in the World. The ASEAN Economic Community (AEC) has a combined GDP of USD 4.2 trillion, according to estimates for 2024.