Singapore’s S&P Global PMI eased to 56.7 in October 2026 from 58.1 in September, signaling the slowest pace of private sector expansion since May. The moderation in activity was largely due to operational constraints, even as demand continued to strengthen, supported by an expanding customer base and effective business development efforts.
Employment rose for the fifth consecutive month, the longest hiring streak since 2024. Firms also increased their purchasing activity at a record pace to meet a sharp rise in new orders. At the same time, delivery times lengthened for the fourth month in a row, reflecting ongoing international shipping bottlenecks, supply shortages, and labour constraints.
On the price front, input cost inflation eased to an eight-month low, as growth in staff costs slowed. In turn, selling prices rose at a more moderate rate. Lastly, business sentiment strengthened to its third-highest reading since the survey began in August 2012, supported by optimism over future sales and activity growth.
