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Singapore Private Sector PMI


            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. source: Markit Economics


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.