Singapore Business Confidence

Last Release

Sep 30, 2025

Actual

Units In

Points

Frequency

Quarterly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
54 Mar 1976	-57 Dec 2008	12.47 Points	1970-2025	Statistics Singapore

In Singapore, the Survey of Business Expectations of the Manufacturing Sector covers around 410 manufacturing firms. These companies are asked to assess their expectation of general business conditions, output and employment for the next six months. Provided responses are then weighted by their contribution to employment and value added. The indicator is computed as the difference between the weighted percentage of positive assessments and the weighted percentage of negative responses. The index varies on a scale of -100 to 100; a value of -100 indicates extreme lack of confidence, 0 neutrality and 100 extreme confidence.

Latest Updates

Business confidence in Singapore’s manufacturing sector rose to 8 in the third quarter of 2025, reflecting a cautious but notable upturn after a reading of 5 in the previous quarter. The electronics sector (+30) was the main driver, buoyed by sustained AI-related demand in the semiconductors segment. The biomedical sector (+11) also turned positive, supported by higher expected orders for pharmaceuticals products. Similarly, transport engineering (+13) remained optimistic, led by strong demand in aerospace maintenance, repair, and overhaul activities. In contrast, precision engineering (-35) posted the weakest outlook as firms reported delayed customer orders amid global uncertainty, while chemicals (-4) stayed subdued due to weak demand and maintenance shutdowns. Meanwhile, output expectations for Q4 turned positive (+7), with most clusters anticipating higher production, though employment levels are expected to stay broadly stable.