Singapore Private Sector Picks Up Steam In October - S&P Global

(RTTNews) - The private sector in Singapore continued to expand in October, and at a faster rate, the latest survey from S&P Global revealed on Wednesday with a PMI score of 57.4.

That's up from 56.4 in September and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Central to October's expansion was higher new work inflows. Incoming new orders rose at the fastest pace in 13 months, driven by business expansion efforts among companies and better underlying demand conditions. As a result of the sharp rise in new work, business activity growth accelerated. Sub sector data showed that the wholesale & retail sale category led the expansion in activity in October.

Purchasing activity also rose in October in response to higher new work inflows and output requirements. This, in turn, contributed to another expansion in stocks of purchases. The rate at which input inventory holdings rose was the strongest since June 2014, as companies reported accumulating input stocks for both current and future demand.