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.