The IHS Markit Singapore PMI rose to 45.1 in September 2020 from 43.6 in August. Still, this was the eight straight month of contraction in the private sector, amid ongoing COVID-19 pandemic. Output declined at a slower rate; while new business fell again, with the rate of drop broadly similar to that seen in August. Buying levels were reduced further, though the rate of contraction was the slowest in the current seven-month sequence of decline. Meantime, external orders fell for a second month running and at a substantial rate. Firms remained in retrenchment mode, though the rate of job shedding was noticeably slower when compared to recent months. Backlogs of work dropped further, resulting in spare capacity persisting. As for prices, input prices rose for the fourth straight month, while prices charged fell the most in three months. Lastly, sentiment turned positive as firms expected an improvement in the pandemic situation, government support and greater market confidence. source: Markit Economics

Composite Pmi in Singapore averaged 50.92 points from 2013 until 2020, reaching an all time high of 56.80 points in May of 2018 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 October of 2020.

Composite Pmi in Singapore is expected to be 50.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in Singapore to stand at 49.00 in 12 months time. In the long-term, the Singapore Private Sector PMI is projected to trend around 53.10 points in 2021 and 53.00 points in 2022, according to our econometric models.

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Singapore Private Sector PMI

Actual Previous Highest Lowest Dates Unit Frequency
45.10 43.60 56.80 27.10 2013 - 2020 points Monthly


News Stream
Singapore Private Sector Downturn Softens
The IHS Markit Singapore PMI rose to 45.1 in September 2020 from 43.6 in August. Still, this was the eight straight month of contraction in the private sector, amid ongoing COVID-19 pandemic. Output declined at a slower rate; while new business fell again, with the rate of drop broadly similar to that seen in August. Buying levels were reduced further, though the rate of contraction was the slowest in the current seven-month sequence of decline. Meantime, external orders fell for a second month running and at a substantial rate. Firms remained in retrenchment mode, though the rate of job shedding was noticeably slower when compared to recent months. Backlogs of work dropped further, resulting in spare capacity persisting. As for prices, input prices rose for the fourth straight month, while prices charged fell the most in three months. Lastly, sentiment turned positive as firms expected an improvement in the pandemic situation, government support and greater market confidence.
2020-10-05
Singapore Private Sector Activity Contracts for 7th Month
The IHS Markit Singapore PMI fell to 43.6 in August of 2020 from July's five-month high of 45.6. The reading pointed to the the seventh consecutive month of contraction in the private sector, amid ongoing measures to contain the spread of the coronavirus disease. Output dropped back into negative territory and new orders continued to fall on the back of a decline in export sales. At the same time, companies remained in retrenchment mode, with employment falling sharply again amid a renewed spare capacity. Purchasing activity and inventories were also reduced further. On the price front, input costs continued to rise, with the pace of inflation remaining steep, boosted by higher shipping costs and suppliers' fees, while output charges fell sharply as firms provided discounts to stimulate sales. Finally, business prospects remained downbeat, amid uncertainty surrounding the course of the pandemic.
2020-09-03
Singapore Private Sector PMI Highest in 5 Months
The IHS Markit Singapore PMI rose to 45.6 in July 2020 from 43.2 in June, pointing to the highest reading since February as the economy moved towards stabilization. New orders fell at a noticeably slower pace, supported by renewed growth in export sales. Moreover, output expanded for the first time since January. Meantime, employment fell sharply again, while firms continued to reduce purchasing activity and inventories substantially amid a sharp rise in cost inflation. On the contrary, output charges were reduced further in July. Pressure on supply chains persisted, with companies highlighting material shortages, a lack of manpower, and closures of overseas suppliers as reasons for delivery delays. Lastly, expectations about the year-ahead outlook worsened sharply, amid business closures and expectations of a prolonged impact of the COVID-19 pandemic on the economy.
2020-08-05
Singapore Private Sector Shrinks at Softer Pace
The IHS Markit Singapore PMI jumped to 43.2 in June 2020 from a record-low of 27.1 in May, pointing to the weakest contraction in four months amid the easing of lockdown measures aimed at stemming the spread of the coronavirus. A fall in new orders was less severe than May's survey record, while export demand continued to deteriorate as businesses reported difficult global trade conditions. Meantime, a rise in activity was insufficient to drive an overall rise in output as nearly 50% of businesses recorded a reduction. Also, staffing numbers were cut as firms increased their efforts to reduce costs and streamline their operations. There was evidence of spare capacity, with backlogs of falling for the fifth month running. On the price front, input costs rose for the first time in four months, while firms discounted their prices at a survey-record rate. Finally, sentiment hit a five-month high.
2020-07-03

Singapore Private Sector PMI
The IHS Markit 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.