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Financial News: Singapore PMI Ebbs In October - Markit

Singapore PMI Ebbs In October - Markit

11/02/2021 - 20:45:00 (RTTNews)

(RTTNews) - The private sector in Singapore continued to expand in October, albeit at a slower pace, the latest survey from Markit Economics revealed on Wednesday with a PMI score of 52.3.

That's down from 53.8, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

This marked the eleventh straight month in which the PMI printed above the neutral 50.0 threshold, signaling improving business conditions. The decline in the headline figure reflected sharper declines in employment and, to a lesser extent, stocks of purchases.

Demand and output growth both accelerated in Singapore's private sector to the fastest since July. Better economic conditions, coupled with the introduction of vaccinated travel lanes (VTLs) in Singapore, boosted demand.

New orders from abroad improved as well, growing at a rate only second to the April 2018 record with higher demand stemming from US, Europe and Asia according to panelists.

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