The S&P Global Singapore PMI rose to 57.4 in October 2025, up from 56.5 in September, marking the ninth consecutive month of private sector expansion. It was also the strongest growth since August 2024, as output increased at the fastest pace in 14 months and new orders saw their sharpest expansion in 13 months, supported by improved demand conditions. Purchasing activity also rose in October in response to higher new work inflows and output requirements. At the same time, employment increased, while backlogs of work expanded at the fastest rate in three years amid strong growth in new order intakes. On prices, input costs continued to rise due to higher purchase prices, wages, and material and transport expenses. Meanwhile, selling prices also increased due to rising costs from deteriorating vendor performance. However, both input and output cost pressures eased compared with the previous month. Finally, business sentiment strengthened to its highest level in more than four years.