Singapore’s S&P Global PMI rose to 57.4 in June 2026 from 56.7 in May, signaling another notable improvement in operating conditions.
The expansion was primarily driven by sustained growth in new orders, supported by strong domestic demand, although output growth slowed to a 10-month low.
The gap between output and new orders led to a significant increase in backlogs of work, which encouraged firms to expand their workforce, ending a two-month period of job shedding.
Companies also increased their purchasing activity, allowing them to build up input inventories, resulting in a similarly sharp rise in pre-production stocks.
In addition, vendors continued to keep pace with demand, as reflected in a third consecutive monthly improvement in suppliers’ delivery times.
Meanwhile, overall cost inflation reached a new survey high, as stronger wage growth more than offset a slowdown in purchase price inflation.
Finally, business confidence for the next 12 months improved noticeably.