Singapore Private Sector PMI Slows To 56.6 In September - S&P Global

(RTTNews) - The private sector in Singapore continued to expand in September, albeit at a slower pace, the latest survey from S&P Global revealed on Thursday with a PMI score of 56.6.

That's down from 57.6 in August, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

Business activity extended the sequence of expansion into September amid higher new business inflows. This was supported by improvements in underlying demand conditions and successful business development efforts, according to panelists. The rates of new business and activity growth were sharp even as they decelerated from August.

Sub-sector data revealed that firms in the wholesale & retail sector experienced the sharpest rise in both new work and activity. Consequent of greater new business inflows, unfinished work further accumulated in September. The rate of accumulation was the most pronounced in eight months, attributed partly to supply constraints.