The S&P Global Singapore PMI climbed to 56.8 in January 2026 from December’s four-month low of 54.1. The latest reading signaled the 12th consecutive month of growth in private sector activity and the fastest expansion since October, driven by a sharp increase in new orders. New business rose the most in 16 months, supported by stronger demand, new product launches, and promotional events. In response to rising new orders, firms increased their staff at the fastest pace in three months. Meanwhile, purchasing activity rose for a fifth straight month. On prices, input cost and output charge inflation both increased above their respective long-run averages. Finally, business sentiment moderated. However, the confidence remained among the highest seen in the past year.