Financial News: Singapore Private Sector PMI Slows In October -

Singapore Private Sector PMI Slows In October - S&P Global

11/03/2026 - 19:47:00 (RTTNews)

(RTTNews) - The private sector in Singapore continued to expand in October, albeit at a slower pace, the latest survey from S&P Global revealed on Wednesday with a business PMI score of 56.7.

That's down from 58.1 in September, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

Central to the latest decline in the headline index was a noticeable drop in the output gauge, which showed activity rising at the softest pace since February 2025. The slowdown in activity growth was mainly attributed to operational constraints, according to panelists, as demand continued to improve, driven by growing customer bases and successful business development efforts.

In fact, the rate of new business growth was faster than in September, with strong inflows of new work further resulting in a rapid accumulation of backlogged work. To accommodate rising workloads, Singaporean companies hired additional staff at a solid pace in October.

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