Singapour Confiance Des Entreprises

Business confidence in Singapore’s manufacturing sector fell to -6 in Q1 2025 from +16 in the previous quarter, reflecting renewed pessimism among manufacturers—the first since Q4 2022. The decline was driven by a weaker business outlook over the next six months in key segments such as biomedical manufacturing (-8), electronics (-9), and chemicals (-22). Conversely, the transport engineering cluster remained the most optimistic (+14), buoyed by strong sentiment in the aerospace segment, where firms continue to expect robust demand amid high global and regional air travel volumes. Sentiment also remained slightly positive in general manufacturing (+4) and precision engineering (+2). Meanwhile, output expectations for Q2 turned positive (+2 vs -15 in Q4), though employment forecasts were slightly less optimistic (+2 vs +4).