Singapore Private Sector Accelerates In October - S&P Global
(RTTNews) - The private sector in Singapore continued to expand in October, and at a faster pace, the latest survey from S&P Global revealed on Thursday with a PMI score of 57.7.
That's up from 57.5 in September and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
With the PMI printing above the 50.0 neutral threshold for 23 months running, the latest headline reading was consistent with another improvement in Singapore's private sector economy. Moreover, the rate of sector expansion was among the strongest on record.
Private sector output growth hastened at the start of the fourth quarter, driven by an improvement in demand that was among the fastest on record. Better underlying demand and recovery from the COVID-19 effect boosted sales, according to panelists. Moreover, foreign demand rose at the fastest pace in five months, supported by new overseas client wins.
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