新加坡10年期国债 (Singapore10Y) 加自选

2025年第二季度，新加坡制造业的商业信心指数为5，反映出在上一季度为-6之后，人们再次感到乐观。化学品行业的情绪明显改善，从2025年第一季度的-22上升到-7。生物医学制造业的前景也不那么悲观，从-8升至-4。此外，精密工程行业的情绪从2微升至4，而电子行业的情绪转为积极，从-9回升至17。相比之下，运输工程和一般制造业的情绪保持中立，此前的读数分别为14和4。

Business confidence in Singapore’s manufacturing sector came in at 5 in the second quarter of 2025, reflecting renewed optimism after a reading of -6 in the previous quarter. A notable improvement in sentiment was observed in the chemicals sector, which increased to -7 from -22 in the first quarter of 2025. The biomedical manufacturing sector also showed a less pessimistic outlook, improving to -4 from -8. Additionally, sentiment in precision engineering edged up to 4 from 2, while sentiment in the electronics industry turned positive, recovering to 17 from -9. In contrast, sentiment remained neutral in both the transport engineering and general manufacturing industries, following previous readings of 14 and 4, respectively.

新加坡银行贷款从5月份的8446亿新元增加到2025年6月的8533亿新元。这是自1980年有记录以来的最大金额，这是由于企业贷款增加（5207亿新元对5月份的5150亿新元）和消费者贷款增加（3326亿新元对3296亿新元）。在商业领域，农业、采矿和采石业（37.2亿新元对37.1亿新元）、制造业（239亿新元对234亿新元），一般商业（900亿新元对880亿新元）和运输、仓储和通信（431亿新元对412亿新元）以及金融和保险活动（1334亿新元对1329亿新元）的贷款有所增加。在消费者方面，住房和过渡性贷款（2372亿新元对2357亿新元）、汽车贷款（85亿新元对84亿新元），信用卡（167亿新元对166亿新元）和股票融资（5.3亿新元对4.9亿新元）等（697亿新元对684亿新元）均有所增长。

Singapore bank loans increased to SGD 853.3 billion in June 2025 from SGD 844.6 billion in May. This marked the largest amount since records began in 1980, driven by higher loans to businesses (SGD 520.7 billion vs SGD 515 billion in May) and consumers (SGD 332.6 billion vs SGD 329.6 billion). Within the business sector, loans rose in agriculture, mining and quarrying (SGD 3.72 billion vs SGD 3.71 billion), manufacturing (SGD 23.9 billion vs SGD 23.4 billion), general commerce (SGD 90 billion vs SGD 88 billion), transport, storage and communication (SGD 43.1 billion vs SGD 41.2 billion), and financial and insurance activities (SGD 133.4 billion vs SGD 132.9 billion). On the consumer side, increases were recorded in housing and bridging loans (SGD 237.2 billion vs SGD 235.7 billion), car loans (SGD 8.5 billion vs SGD 8.4 billion), credit cards (SGD 16.7 billion vs SGD 16.6 billion), share financing (SGD 0.53 billion vs SGD 0.49 billion) and others (SGD 69.7 billion vs SGD 68.4 billion).

新加坡金融管理局（MAS）周三在一份报告中表示，2025年6月，美国对新加坡出口的有效关税率从4月的6.8%升至7.8%。央行将这一增长归因于6月份美国对钢铁和铝的关税翻了一番，达到50%。这两种商品占新加坡对美国出口的4.1%。另外，新加坡企业局的数据显示，6月份非石油国内出口（NODX）同比增长13%，从5月份的3.9%下降大幅反弹。这标志着NODX自2024年7月以来的最强劲增长，这得益于电子和非电子出口的增长。然而，由于美国新征收的关税，对美国的出口下降了4.8%。与此同时，新加坡6月份的出口总额从5月份的592亿新元降至587亿新元。

The effective US tariff rate on Singapore's exports rose to 7.8% in June 2025, up from 6.8% in April, the Monetary Authority of Singapore (MAS) said in a report on Wednesday. The central bank attributed the increase to the doubling of US tariffs on steel and aluminium to 50% in June. These two commodities account for 4.1% of Singapore's exports to the United States. Separately, data from Enterprise Singapore showed that non-oil domestic exports (NODX) surged 13% year-on-year in June, sharply rebounding from a 3.9% decline in May. This marked the strongest expansion in NODX since July 2024, driven by increases in both electronic and non-electronic exports. However, shipments to the US fell 4.8%, weighed down by the newly imposed American tariffs. Meanwhile, Singapore’s total exports declined to SGD 58.7 billion in June from SGD 59.2 billion in May.

初步估计显示，新加坡经季节性调整的失业率从上一季度的2.0%微升至2025年第二季度的2.1%。这标志着自2024年第一季度以来的最高水平，尽管这仍然反映了经济持续增长下劳动力市场的弹性。本季度总就业人数大幅增长（8400人对第一季度的2300人），这是由于居民和非居民就业人数都有较大增长。与此同时，裁员人数保持稳定（3500人对3590人），大多数行业的裁员人数相似或更低。企业重组或改组仍然是裁员的主要原因。然而，一些外向型行业，特别是专业服务和信息通信行业，继续出现疲软迹象。展望未来，持续的全球经济不确定性可能会影响招聘和工资增长，特别是在受外部需求影响的行业。

Singapore’s seasonally adjusted unemployment rate edged up to 2.1% in the second quarter of 2025, from 2.0% in the previous quarter, a preliminary estimate showed. This marked the highest level since the first quarter of 2024, though it still reflects a resilient labor market amid continued economic growth. Total employment rose significantly during the quarter (8,400 vs 2,300 in Q1), driven by larger gains in both resident and non-resident employment. Meanwhile, the number of retrenchments remained stable (3,500 vs 3,590), with most sectors seeing similar or lower levels. Business reorganization or restructuring remained the leading cause of job cuts. However, signs of softening continued to emerge in some outward-oriented sectors, particularly in professional services and information and communications. Looking ahead, persistent global economic uncertainty may weigh on hiring and wage growth, especially in sectors exposed to external demand.