Singapore Pmi Composite

The S&P Global Singapore PMI fell to 56.6 in September 2024 from August’s near two-year high of 57.6. It was also the softest expansion in three months for private sector activity, as growth in new orders and output slowed despite staying elevated by historical standards. Unfinished work increased the most in eight months, partly due to supply constraints. Also, delivery times lengthened at the steepest level in over two years, due to shipping and labor issues. Meanwhile, firms lifted their staffing and buying levels. This came as stocks of purchases fell at the fastest pace in 8 months, amid some delays. Regarding inflation, input prices continued to climb despite its inflation rate easing, as purchase price and wage inflation fell slightly. This enabled companies to raise selling prices at a softer pace. That said, input cost and output price inflation remained above their respective series averages. Lastly, sentiment remained positive but eased from an over 3-year peak in August.