The S&P Global Singapore PMI fell to 51.3 in July 2023 from 54.1 in June, signaling the fifth monthly expansion in private sector activity, though at the slowest pace in the current sequence. A sharp deceleration of new order growth led to a slower, albeit still solid, expansion in business activity. Private sector output expansion was the most rapid in the transport and information & communication sectors. Meanwhile, inventory and staffing levels both declined, with the latter stemming from a mixture of resignations and shedding of part-time workers on the back of slower demand growth. On the price front, input costs remained on the climb in July due to both rising purchasing costs and wages. Lastly, overall sentiment within the Singaporean private sector remained positive at the start of the second half of 2023. That said, the level of business confidence fell over the latest survey period. source: Markit Economics

Composite PMI in Singapore averaged 51.70 points from 2013 until 2023, 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 August of 2023.

Composite PMI in Singapore is expected to be 52.00 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 54.00 points in 2024 and 52.00 points in 2025, according to our econometric models.

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Singapore Private Sector PMI



Related Last Previous Unit Reference
Composite PMI 51.30 54.10 points Jul 2023

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
51.30 54.10 59.40 27.10 2013 - 2023 points Monthly

News Stream
Singapore Private Sector Expansion Eases in July
The S&P Global Singapore PMI fell to 51.3 in July 2023 from 54.1 in June, signaling the fifth monthly expansion in private sector activity, though at the slowest pace in the current sequence. A sharp deceleration of new order growth led to a slower, albeit still solid, expansion in business activity. Private sector output expansion was the most rapid in the transport and information & communication sectors. Meanwhile, inventory and staffing levels both declined, with the latter stemming from a mixture of resignations and shedding of part-time workers on the back of slower demand growth. On the price front, input costs remained on the climb in July due to both rising purchasing costs and wages. Lastly, overall sentiment within the Singaporean private sector remained positive at the start of the second half of 2023. That said, the level of business confidence fell over the latest survey period.
2023-08-03
Singapore Private Sector PMI Falls to 3-Month Low
The S&P Global Singapore PMI declined to a three-month low of 54.1 in June 2023 from 54.5 in the previous month. Still, the latest result marked the fifth straight month of expansion in private sector activity this year, as new orders extended the sequence of growth that began at the start of 2023. Also, output rose at the fastest rate since last October, while buying levels swelled in line with continued demand growth. Meantime, both export sales and employment were subdued. Better supply chain conditions and freight performances led to delivery times shortening the most in over six years. On prices, input cost inflation slowed due to softer purchase prices and wage increases, which rose at the weakest paces since November 2021 and March 2023, respectively. This led to private sector firms raising their output prices at the most moderate pace in just over two years. Lastly, sentiment hit an 8-month peak, amid hopes of sustained growth in sales.
2023-07-05
Singapore Private Sector Growth Eases
The S&P Global Singapore PMI declined to 54.5 in May 2023 from April’s five-month high of 55.3. The latest result marked the fourth expansion in private sector activity this year amid a sustained improvement in new orders. However, foreign demand recorded a monthly decline due to weaker conditions abroad. Growth was most pronounced in real estate & business services. Meanwhile, employment fell for the second time in four months due to resignations and Covid-19-related disruptions. Purchasing activity rose solidly, while inventory levels stayed almost unchanged, as supply and employment limited the replenishment of stocks. On the pricing front, input cost inflation eased to an 18-month low but remained relatively high. Consequently, output cost inflation slowed. Lastly, business sentiment weakened below the series average as concerns lingered over inflation and the economic outlook.
2023-06-06