Singapore’s private sector activity expanded at the fastest pace in nine months in November, survey figures from Markit Economics showed Thursday.
The Nikkei Purchasing Managers’ Index, or PMI, rose to 52.2 in November from 50.2 in the previous month.
Private sector output grew sharply in November and the rate of increase was the strongest since February. Improved client demand and new projects had boosted output.
New orders climbed for the first time in five months in November, mainly driven by improved foreign demand. New export orders increased at a solid rate that was the fastest seen in two-and-a-half years.
In contrast, companies reduced their payroll numbers again in November, though the rate of job cuts was only modest.
On the price front, input prices increased at a moderate pace in November. Similarly, output charges rose slightly during the month.
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