THE CHARTIST: FOUR IN TEN SINGAPORE FIRMS PLAN WAGE FREEZES AS OUTLOOK WEAKENS

About 41% Singapore businesses plan to freeze wages in the next 12 months, up from 35% last year, as economic uncertainty weighs down confidence and hiring plans, according to the Singapore Business Federation's (SBF) National Business Survey 2025-Manpower and Wages Edition.

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Fewer companies intend to raise salaries, with 59% planning increases compared to 64% last year. The only exception is for lowerwage workers, with two in three firms still planning to increase their pay.

The overall business sentiment index dipped 1.1 points from 56.5 in the first quarter of 2025 to 55.4 in the second quarter.