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.

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Singapore Private Sector PMI



Related Last Previous Unit Reference
Composite PMI 57.70 57.50 points Oct 2022

Singapore Private Sector PMI
The S&P Global Singapore Purchasing Managers’ Index™ (PMI™) is based on data compiled from monthly replies to questionnaires sent to executives in over 400 private sector companies including manufacturing, services, construction and retail. Survey responses reflect the change, if any, in the current month compared to the previous month based on data collected mid-month. An index reading above 50 indicates an overall increase in private sector activity, below 50 an overall decrease.
Actual Previous Highest Lowest Dates Unit Frequency
57.70 57.50 59.40 27.10 2013 - 2022 points Monthly

News Stream
Singapore Private Sector Growth Hits 3-Month High
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.
2022-11-03
Singapore Private Sector Growth Accelerates
The S&P Global Singapore PMI increased to 57.5 in September 2022 from August's five-month low of 56.0, signalling a sharp expansion in Singapore's private-sector economy. It was the 22nd straight month of increase in the private sector, as new order growth hits fresh record high, while output growth accelerated. Also, foreign demand expanded for a seventeenth consecutive month amid reports of new overseas clients, with buying activity rising. At the same time, employment increased for the first time in four months, with the rate of backlog accumulations reaching a nine-month high. A further deterioration in vendor performance was seen, but the rate of drop was the softest since March 2021. On prices, input cost inflation was among the quickest on record and driven by historically sharp rates of purchase price and staff cost inflation. Meanwhile, output cost inflation eased to a four-month low. Finally, optimism remained as hopes for a post-pandemic market recovery were sustained.
2022-10-05
Singapore Private Sector Growth at 5-Month Low
The S&P Global Singapore PMI dropped to a five-month low of 56.0 in August 2022 from 58.0 in July, reflecting current interest rates and cost pressures. Still, the latest print marked the 21st straight month of increase in the private sector, with growth in output and new orders remaining significant and historically sharp despite softening. Meanwhile, job shedding continued, but at a rate which was very slight and the slowest in three months. Backlogs of work also accumulated substantially amid reports of labor and material shortages. A further deterioration in vendor performance was seen, but the rate of drop was the softest in a year. On prices, input cost inflation accelerated, due to higher energy and raw material costs as well as rising buying cost and the second-sharpest on record of staff expenditure. Finally, optimism remained as hopes for a post-pandemic market recovery were sustained.
2022-09-05