Singapore has kicked off 2026 strongly, with the PMI rising to 56.8 in January, marking a year of expansion driven by faster new business and hiring, even as costs stay elevated. That strength contrasts with a tentative global recovery, where manufacturing PMI is just 50.9, while Japan’s post-election policy clarity and improving PMI add a fresh regional tailwind. Pan Jingyi, Economics Associate Director, S&P Global Market Intelligence looks at thethe question of whether Singapore’s momentum is sustainable or partly sentiment-driven.

 

 

Singapore has kicked off 2026 strongly, with the PMI rising to 56.8 in January, marking a year of expansion driven by faster new business and hiring, even as costs stay elevated. That strength contrasts with a tentative global recovery, where manufacturing PMI is just 50.9, while Japan&rsquo;s post-election policy clarity and improving PMI add a fresh regional tailwind. Pan Jingyi, Economics Associate Director, S&amp;P Global Market Intelligence looks at the the question of whether Singapore&rsquo;s momentum is sustainable or partly sentiment-driven.
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Get a head start on your workday with Ryan Huang, Emaad Akhtar and Audrey Siek from 6 am to 9 am. 
Listen to insightful discussions on the stories and issues that matter the most to you and be apprised of the markets and the companies to watch.