Singapore Composite PMI

Last Release

Jul 31, 2024

Actual

57.2

Units In

Points

55.2

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
59.4 May 2022	27.1 May 2020	52 Points	2013-2024	Markit Economics

The IHS Markit 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.

Latest Updates

The S&P Global Singapore PMI decreased to 55.5 in October 2024 from September's 56.6, marking the softest expansion in private sector activity since June, as new orders grew less than in the previous month. Output growth accelerated while employment increased for the sixth straight month, with the backlogs of work rising sharply. Meanwhile, purchasing activity stalled, as instances of growth attributed by some companies to rising new work inflows were offset by the paring back of purchasing levels at other firms. Meanwhile, delivery times lengthened at the steepest level since July 2022 due to shipping and labor issues. On prices, input cost inflation accelerated to an eight-month high due to higher transport and material costs. As a result, output cost inflation rose to an eight-month high as firms opted to share rising cost burdens with clients. Finally, sentiment improved to the second-highest in over three years amid hopes of strengthened sales due to better market conditions.