Singapore Private Sector Growth at 5-Month Low

2026-11-04 00:37 By Chusnul Chotimah 1 min. read

Singapore’s S&P Global PMI declined to 56.7 in October 2026 from 58.1 in September, marking the softest expansion in the private sector since May.

The slowdown in activity growth was mainly attributed to operational constraints, with output growth easing despite a sharp rise in new orders, driven by expanding customer bases and business development efforts.

Employment rose for the fifth straight month, marking the longest streak since 2024.

Firms raised their purchasing levels at a record pace in response to the sharp rise in new orders, while delivery times deteriorated for a fourth successive month, highlighting international shipping congestion, supply shortages, and labour shortages.

On prices, input cost inflation eased to an eight-month low as staff costs rose at a softer pace.

As a result, selling prices rose more slowly.

Finally, business sentiment improved to its third-highest level since data collection began in August 2012, amid optimism about sales and activity growth.



News Stream
Singapore Private Sector Growth at 5-Month Low
Singapore’s S&P Global PMI declined to 56.7 in October 2026 from 58.1 in September, marking the softest expansion in the private sector since May. The slowdown in activity growth was mainly attributed to operational constraints, with output growth easing despite a sharp rise in new orders, driven by expanding customer bases and business development efforts. Employment rose for the fifth straight month, marking the longest streak since 2024. Firms raised their purchasing levels at a record pace in response to the sharp rise in new orders, while delivery times deteriorated for a fourth successive month, highlighting international shipping congestion, supply shortages, and labour shortages. On prices, input cost inflation eased to an eight-month low as staff costs rose at a softer pace. As a result, selling prices rose more slowly. Finally, business sentiment improved to its third-highest level since data collection began in August 2012, amid optimism about sales and activity growth.
2026-11-04
Singapore Private Sector Growth Remains Strong
Singapore’s S&P Global PMI fell to 58.1 in September 2026 from a record 59.4 in August, but still signaled another strong improvement in private-sector business conditions. Growth was supported by a marked rise in new orders, driven by robust demand, expanding customer bases and successful business development, which helped activity accelerate. Real estate and business services recorded the sharpest increases in both new orders and activity. Rising workloads prompted further hiring and purchasing, while firms also built inventories. However, supplier performance deteriorated sharply, with lead times lengthening at the fastest pace since early 2022. Cost pressures intensified, with input-price inflation reaching a survey record, prompting firms to raise output prices at one of the fastest rates on record. Despite these pressures, business confidence remained positive, supported by expectations of improving market conditions, new products and government initiatives.
2026-10-05
Singapore Private Sector Expands Further
Singapore’s S&P Global PMI edged up to 59.4 in August 2026 from 59.2 in July, signaling the most notable improvement in business conditions since May 2022. The upturn was driven mainly by a sharp increase in new orders, which offset a moderation in output growth to a 12-month low. Stronger inflows of new work led firms to increase capacity and input requirements. Hiring activity picked up sharply, the strongest recorded since February. Still, firms struggled to keep pace with mounting workloads, as evidenced by a steep rise in backlogged orders. Buying activity expanded further, while supplier lead times lengthened at a less severe pace than in July despite ongoing supply-chain disruptions. On prices, both purchase prices and employment costs continued to rise at elevated rates in August. Lastly, business confidence rose to its highest in four months amid upbeat projections for demand. Manufacturers expressed the strongest optimism, while services firms were the least confident.
2026-09-03