The S&P Global Singapore PMI dropped to 51.2 in August 2025 from July’s three-month high of 52.7, marking the seventh consecutive month of private sector expansion. However, both new orders and output expanded at softer paces. Growth in new orders eased, partly due to dampened demand following US tariffs. As a result, the rates of new business and activity were the slowest in seven and six months, respectively. Consequently, private sector employment posted a renewed decline. Purchasing activity declined for the third straight month due to the slowdown in new order growth. On prices, input cost inflation eased amid lower purchase price inflation. Despite rising input costs, private sector firms lowered their charges at the fastest pace since January 2021, driven by intense competition. Lastly, business sentiment weakened amid ongoing trade uncertainty.