SINGAPORE, Dec. 4 (Xinhua) -- Singapore's private sector saw a moderation in growth, with the seasonally adjusted Purchasing Manager's Index (PMI) easing to 53.9 in November from 55.5 in October, according to a report by S&P Global published Wednesday.

While a PMI above 50 indicates expansion, November's reading marks the 21st consecutive month of improved business conditions in the private sector, though at the slowest pace in seven months, the report said.

Despite the deceleration, new business and activity maintained strong growth, with backlogged orders driving continued job creation. However, purchasing activity declined due to sufficient inventory levels and reduced optimism about future output.

Supply chain challenges contributed to sharply rising input costs, leading to a marked increase in selling prices.

"The pace of output expansion lost some momentum in the latest survey period. Business optimism also softened to a 16-month low, reflecting concerns over heightened competition affecting sales in the next 12 months," said Jingyi Pan, economics associate director at S&P Global Market Intelligence. Pan cautioned that supply constraints could push transport costs higher.

Separately, the Singapore Institute of Purchasing and Materials Management reported on Tuesday that Singapore's manufacturing PMI rose by 0.2 points in November to 51, marking 15 consecutive months of expansion. Enditem

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