Singapore’s PMI May 2025

According to data from S&P Global, Singapore’s Purchasing Manager’s Index (PMI) reached 51.5 in May, above the 50-point threshold that separates growth from contraction.

Business activity continued to expand in May, though the pace of growth slowed in line with a more moderate increase in new orders. Stocks of purchases declined, in part due to delays in supplier deliveries.

Business sentiment turned negative, reflecting increased uncertainty about the economic outlook.

This uncertainty was also associated with a further decline in employment levels.

Input cost inflation eased to its lowest point in 45 months, resulting in only a marginal rise in output prices.

While current business conditions remained positive overall, forward-looking indicators suggested a potential slowdown, with weaker new order growth and more cautious sentiment amid heightened geopolitical uncertainty.

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.