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Singapore Private Sector PMI Ebbs In November - Markit

The private sector in Singapore continued to expand in November, albeit at a slower pace, the latest survey from Markit Economics showed on Friday with a PMI score of 52.0.

That's down from 52.3 in October, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Private sector output rose for the twelfth straight month in November and at the fastest rate since July. Better demand conditions, set against the backdrop of opening of vaccinated travel lanes (VTLs), enabled output to rise at a faster rate in November according to panelists.

New orders continued to grow at a strong rate in November following the gradual easing of COVID-19 restrictions in Singapore. Growth of foreign demand notably surged to a record rate in November, with anecdotal evidence suggesting better global demand having been witnessed.

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