Business conditions in Singapore's private sector improve in April: S&P Global

SINGAPORE, May 6 (Xinhua) -- Business conditions in Singapore's private sector showed improvement in April, with the seasonally adjusted Purchasing Manager's Index (PMI) rising to 52.8, up from 52.7 in March, according to a report released Tuesday by S&P Global.

A PMI reading above 50 signals expansion, while a figure below 50 indicates contraction. The latest reading, which has remained above the 50.0 threshold for three consecutive months, suggests that business conditions in the private sector continue to improve, reaching their fastest pace since last November, the report noted.

New business inflows accelerated, driving increased output. Similarly, purchasing and inventory levels rose in tandem. However, employment levels continued to decline, contributing to a sharp rise in backlogged work, it said.

Meanwhile, average charges fell for the first time since January 2021, reflecting a softer increase in costs and businesses' efforts to support sales amid a notable reduction in optimism among Singaporean businesses.

"April's S&P Global Singapore data revealed that the private sector expanded at a faster pace," said Economics Associate Director at S&P Global Market Intelligence Jingyi Pan.

"That said, anecdotal evidence pointed to further signs of front-loading of goods orders ahead of tariffs, while business sentiment and pricing powers were clearly affected by concerns over the outlook for trade and global growth. Job shedding also continued despite the solid uptick in new orders, reflecting caution among businesses at the start of the second quarter of 2025," Pan added. Enditem