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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SingaporeSingapore Business Confidence climbed to 17.0% in January 2026
FMPMonthlyReleased April 2026
Singapore Business Confidence climbed to 17.0% in January 2026, released April 2026, up 6.0% from December's 11.0% reading. The print exceeded the 6.0% consensus by 11.0%. Business Confidence has now risen for 5 consecutive months. Business Confidence is now the highest in 18 months.
Latest Release
17
Actual
6
Consensus
11
Previous
Median Absolute Error
±3.5 percentage points
across last 10 releases
Last Call
Feb 2026
Predicted: 9
Actual: 11
Error: -2
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/SGD | ▼ Inverse | −0.50 | FOREX | Bullish SGD | → View |
| AUD/USD | ▲ Direct | +0.35 | FOREX | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Business Confidence (Singapore) was reported at 17% in April 2026. This beat the market consensus of 6% by 11%. The reading rose from the previous value of 11%. Trailing 12-month context per ETL data through February 2026.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 8.00, up from the prior three at 6.67.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/SGD (Bullish SGD). A secondary relationship exists with AUD/USD, positively correlated (Watch). Over the last 10 releases, the Sigmacast model's median absolute error is 3.50.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include CPI YoY (Jun 23).
Auto-generated from current model state · Refreshes on each release · Last update February 2026.
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Business Confidence - SG
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About Business Confidence — Singapore
DEFINITION
Business Confidence is a financial indicator that measures the level of optimism or pessimism among business owners and managers about the current and future state of the economy. It is often used as a gauge of overall economic health and can impact investment decisions, hiring practices, and consumer spending. A high level of business confidence indicates a positive outlook and potential for growth, while a low level may signal caution and potential economic downturn. This indicator is closely monitored by economists, policymakers, and investors to assess the overall sentiment and potential direction of the business sector.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jan 2026): actual 17, consensus 6. Prior reading (Oct 2025): 11. Before that (Jul 2025): 8.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/SGD (Bullish SGD, r=-0.50) — a useful reference for forex-focused traders.