Singapore’s private economy expands for 19 consecutive months

SINGAPORE, Oct. 3 (Xinhua) — The seasonally adjusted S&P Global Singapore Purchasing Managers’ Index (PMI) was 56.6 in September, marking a continued improvement in private business conditions for 19 straight months, the S&P Global said Thursday.
The growth rate eased to a three-month low but remained marked, it added.
The accumulation rate was the most pronounced in eight months, partly due to supply constraints. Inventory levels also declined amid a worsening of supply delays.
Input prices continued climbing last month as firms reported higher raw materials, transport, and labor costs, but at a moderate pace from August.
Though easing from an over three-year peak in August, the confidence levels among Singaporean private sector firms remained above the long-run average and reflected hopes for better business activities.
A PMI reading of 50 and above indicates expansion, while a reading below 50 indicates contraction. ■