In brief
Singapore’s Purchasing Managers’ Index fell to a five‑month low of 56.7 in October, according to Xinhua’s reporting of S&P Global data. The index dropped from 58.1 in September while still indicating sustained activity beyond the no‑change line. Despite the slowdown, input and output prices rose, inflation eased, and forward‑looking measures such as new orders and backlog levels suggest near‑term growth will persist.
Xinhua reported that Singapore’s private‑sector Purchasing Managers’ Index slid to 56.7 in October, marking a five‑month low but remaining comfortably above the 50 no‑change threshold for the 21st consecutive month.
The headline figure fell from 58.1 in September, signalling a deceleration of private‑sector expansion as the fourth quarter begins.
"The latest S&P Global Singapore PMI data revealed that business conditions continued to improve at a robust pace at the start of the fourth quarter," said Jingyi Pan, economics associate director at S&P Global Market Intelligence, in a statement released with the figures.
Pan added that strong demand underpinned employment and purchasing activity growth, although overall input costs and output prices continued to rise.
Inflation rates eased from September’s levels, yet costs remain elevated, a mix that *S&P Global* notes could temper growth momentum.
Despite the operational‑constraints‑driven slowdown in business activity growth, forward‑looking indicators, including new orders, backlogs of work, and future output indices, all hinted at continued business activity growth in the near term.
Only Xinhua reported the 21‑month streak above the 50 threshold, highlighting Singapore’s sustained, though slowing, economic dynamism.