Singapore Pmi Composite

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.