S&P Global Singapore PMI Down in December 2024
Institutions: The expansion of the private sector in Singapore is expected to slow down by the end of 2024.
In December, Singapore's overall Purchasing Managers' Index fell from 53.9 in November to 51.5, marking the slowest expansion rate since July 2023. Jingyi Pan, Deputy Director of Economic Intelligence at S&P Global Market, stated that the growth of new business and output in Singapore has clearly slowed down. Despite increased confidence, businesses are unwilling to enhance purchasing activities and inventory levels, and have laid off employees for the first time since April. Pan added that on the positive side, optimism regarding the growth of Singapore's output in 2025 has improved, and inflation in selling prices has eased, which should support sales. Pan stated, important.
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