新加坡10年期国债 (Singapore10Y) 加自选

2025年8月，新加坡零售额同比增长5.2%，高于上个月下调后的4.6%。这标志着自去年2月以来零售活动的最强劲增长，主要是由于家具和家用设备（7月份为8.6%对2%）、娱乐用品（9.9%对6.8%）和其他（1.6%对-0.3%）的销售额增加。此外，服装和鞋类（-1.4%对-4.2%）和加油站（-5%对-5.6%）的贸易下降幅度较小。另一方面，百货商店（-6.5%对4.1%）、迷你商场和便利店（-1.7%对0%）的活动有所下降，而计算机和电信设备的销售增长有所放缓（7.4%对10.9%）。按月计算，8月份零售额增长了0.5%，较前一时期下调后的3.9%有所放缓。

Retail sales in Singapore climbed by 5.2% year-on-year in August 2025, accelerating from a downwardly revised 4.6% increase in the previous month. This marked the strongest growth in retail activity since February of last year, mainly driven by higher sales of furniture and household equipment (8.6% vs 2% in July), recreational goods (9.9% vs 6.8%), and others (1.6% vs -0.3%). Additionally, trade declined to a lesser extent for wearing apparel and footwear (-1.4% vs -4.2%) and petrol service stations (-5% vs -5.6%). On the other hand, activity decreased in department stores (-6.5% vs 4.1%) and mini-marts and convenience stores (-1.7% vs 0%), while sales growth softened for computer and telecommunications equipment (7.4% vs 10.9%). On a monthly basis, retail sales rose by 0.5% in August, slowing from a downwardly revised 3.9% advance in the preceding period.

STI指数升至4404.00点的历史高点。过去4周，富时海峡时报指数上涨2.45%，过去12个月上涨22.65%。

STI increased to an all-time high of 4404.00 Index Points. Over the past 4 weeks, FTSE Straits Times Index gained 2.45%, and in the last 12 months, it increased 22.65%.

标准普尔全球新加坡采购经理人指数从8月份的51.2升至2025年9月的56.4，标志着私营部门连续第八个月扩张。这也是自2024年9月以来最强劲的增长，这得益于就业、采购活动和库存的再次增加。尽管就业增长稳健，但9月份积压的工作以一年来最明显的速度累积。新订单的增加导致采购活动五个月来首次增加，而由于装运延误，供应商的交货时间以今年迄今为止最快的速度延长。在价格方面，投入成本通胀加速至八个月高点，购买价格和工资压力都在上升。因此，随着公司将更高的成本转嫁给客户，销售价格以自1月以来的最快速度上涨。最后，在业务扩张计划和经济活动增加的支持下，需求有望上升，市场情绪增强至不到一年来的最高水平。

The S&P Global Singapore PMI rose to 56.4 in September 2025, up from 51.2 in August, marking the eighth consecutive month of private sector expansion. It was also the strongest growth recorded since September 2024, driven by renewed increases in employment, purchasing activity, and inventories. Despite solid employment growth, backlogs accumulated in September at the most pronounced pace in a year. Higher new orders led to the first rise in purchasing activity in five months, while suppliers’ delivery times lengthened at the sharpest rate year-to-date due to shipment delays. On prices, input cost inflation accelerated to an eight-month high, with both purchase prices and wage pressures rising. As a result, selling prices increased at the fastest pace since January, as firms passed on higher costs to clients. Lastly, sentiment strengthened to its highest level in just under a year, amid hopes of rising demand supported by business expansion plans and increased economic activity.

新加坡9月制造业采购经理人指数从8月的50.0微升至50.1，为六个月来的最高水平，表明制造业适度扩张。电子行业约占制造业总产出的40%，领涨，PMI为50.7，高于8月份的50.4，这得益于新订单、出口、生产和投入采购的快速增长。尽管预计该行业将在第四季度保持增长势头，但扩张风险依然存在，美国关税压力、全球经济不确定性以及针对特定行业的药品和电子产品关税可能会在今年下半年放缓增长。

Singapore’s Manufacturing PMI edged up to 50.1 in September from 50.0 in August, marking the highest reading in six months, indicating a modest expansion in the manufacturing sector. The electronics sector, accounting for roughly 40% of total manufacturing output, led the gains, posting a PMI of 50.7, up from 50.4 in August, driven by faster growth in new orders, exports, production, and input purchases. While the sector is expected to maintain its growth momentum entering the fourth quarter, risks to expansion persist, with US tariff pressures, global economic uncertainties, and sector-specific tariffs on pharmaceuticals and electronics potentially moderating growth in the latter half of the year.