The S&P Global Singapore PMI increased to 57.7 in October 2022 from 57.5 in September, growing at the fastest pace in 3 months as Singapore’s private sector proved remarkably resilient despite global macroeconomic headwinds. The latest data also printed above the 50 neutral threshold for the 23rd straight month and held close to a record high of 59.4 notched in May. Output growth hastened at the start of the 4th quarter, driven by an improvement in demand that was among the fastest on record. Employment levels also climbed at the fastest pace in 5 months, while backlogs continued to accumulate as new orders growth surpassed that of output at the start of the 4th quarter. Meanwhile, purchasing activity rose in line with the growth in new orders and output. Price pressures nevertheless persisted, with overall input cost inflation at amongst the highest on record. Still, Singapore’s private sector stayed optimistic amid hopes for continued sales growth as the economy recovers further. source: Markit Economics
Composite PMI in Singapore averaged 51.62 points from 2013 until 2022, reaching an all time high of 59.40 points in May of 2022 and a record low of 27.10 points in May of 2020. This page provides - Singapore Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore Private Sector PMI - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.
Composite PMI in Singapore is expected to be 53.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Private Sector PMI is projected to trend around 50.00 points in 2023 and 51.20 points in 2024, according to our econometric models.