Singapore manufacturing growth slows in May ’25 – PMI

The seasonally adjusted S&P Global Singapore Purchasing Manager’s Index (PMI) fell to 51.5 in May from 52.8 in April, marking the fourth consecutive month above the 50.0 no-change threshold that indicates improved business conditions.

Despite remaining in expansion territory, the rate of growth slowed to the lowest level in three months. The easing was driven primarily by a slowdown in new business growth, with incoming orders rising at the softest pace in the current four-month sequence, reportedly impacted by US tariffs.

Output growth also eased but remained close to the solid long-term average. Sector data showed that the wholesale and retail sector led output growth, while the finance and insurance sector experienced the sharpest decline in activity.

Attribution: Amwal Al Ghad English