新加坡元/日元 (SGDJPY) 加自选

新加坡制造业采购经理人指数从6月的50.0降至2025年7月的49.9，在上个月短暂扩张后回落至收缩区间。在全球贸易政策和关税持续存在不确定性的情况下，制造商仍然保持谨慎，导致许多公司推迟了投资和招聘计划。相比之下，7月份电子行业PMI从6月份的50.1微升至50.2，标志着连续第二个月扩张。新订单、新出口、工厂产出和投入品采购的增加支撑了温和的增长。分析师指出，整体制造业和电子业PMI之间的差异反映了美国关税的持续波动。虽然新加坡的关税税率预计将稳定在10%，但由于与主要合作伙伴的贸易联系，其出口和经济面临的间接风险依然存在。

Singapore’s Manufacturing PMI edged down to 49.9 in July 2025 from 50.0 in June, slipping back into contraction territory after a brief expansion the previous month. Manufacturers remained cautious amid persistent uncertainty over global trade policies and tariffs, leading many companies to delay investment and hiring plans. In contrast, the electronics sector PMI rose slightly to 50.2 in July from 50.1 in June, marking a second consecutive month of expansion. The modest growth was supported by increases in new orders, new exports, factory output, and input purchases. Analysts noted that the divergence between overall manufacturing and electronics PMIs reflects ongoing US tariff volatility. While Singapore’s tariff rate is expected to remain steady at 10%, indirect risks to its exports and economy persist due to trade linkages with key partners.