Singapore PMI returns to growth in October

By On November 04, 2018

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, Singapore̢۪s private sector continued to observe fewer inbound orders from overseas," Hayes added.

(Nikkei)

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See Also

  • Japan services PMI marks six months high in October
  • India's services PMI shows improvement in October
  • Philippines’ manufacturing PMI saw sharp rise in October
  • Hong Kong`s private sector continues to weaken
Source: Google News Singapore | Netizen 24 Singapore

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