Singapore PMI returns to growth in October
TOKYO -- Singapore's private sector economy signaled a return to growth in October, with stronger improvement in sales and higher output.
The Nikkei Singapore Purchasing Managers' Index, or PMI, rose to 52.6 in October from 49.6 in September. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.
"Output, new orders and employment, the key metrics of macroeconomic performance monitored by the survey, all expanded at solid rates," said Joe Hayes, economist at IHS Markit, which compiles the survey.
"There was evidence to suggest that sales were driven by promotional efforts," while "amid ongoing trade frictions, Singaporeâs private sector continued to observe fewer inbound orders from overseas," Hayes added.
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