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Financial News: Singapore Private Sector Ebbs In October - S&P

Singapore Private Sector Ebbs In October - S&P Global

11/04/2024 - 22:18:00 (RTTNews)

(RTTNews) - The private sector in Singapore continued to expand in October, albeit at a slower rate, the latest survey from S&P Global revealed on Tuesday with a PMI score of 55.5.

That's down from 56.6, although it remains above the boom-or-bust line that separates expansion from contraction.

Incoming new orders for Singaporean goods and services expanded sharply in October, driven by improvements in underlying demand conditions and successive business development efforts. New sales rose the quickest in the wholesale and retail sector according to detailed sector data.

The marked increase in new business contributed to an acceleration of business activity growth. The level of backlogged work also rose sharply, with firms in the real estate & business services experiencing the most pronounced accumulation.

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