Singapore Market Outlook H2 2025

INDUSTRIAL Manufacturing sentiments remain cautious though there are indications of recovery

MANUFACTURERS SENTIMENTS

PURCHASING MANAGERS’ INDEX

• Singapore’s Purchasing Managers’ Index (PMI), a barometer of manufacturing demand, rose to 50 in June and has returned to expansionary territory following two consecutive months of contraction.

• Manufacturing business sentiments for April – Sep 2025 turned negative*, except for transport engineering, general manufacturing and precision engineering.

44 45 46 47 48 49 50 51 52

16%

Transport Engineering

+14

Expansionary

General Manufacturing Industries

+4

Contractionary

Precision Engineering

+2

Biomedical Manufacturing

-8

Net weighted balance

-6%

H1 2025 Apr 2025 - Sep 2025

-9

Electronics

-22

Chemicals

Source: SIPMM

Source: EDB, Cushman & Wakefield Research * Net weighted balance indicates the difference between the weighted percentage of 'up' responses and the weighted percentage of 'down' responses.