Singapore's Private Sector Accelerates In February - S&P Global

(RTTNews) - The private sector in Singapore continued to expand in February, and at a faster pace, the latest survey from S&P Global revealed on Tuesday with a PMI score of 56.8.

That's up from 54.7 in January and it moves further above the boom-or-bust line of 50 tat separates expansion from contraction.

An improvement in demand conditions underpinned the latest expansion in business activity. Incoming new business grew at the joint-fastest rate in nine months as underlying demand conditions improved. In turn, business activity expanded at an accelerated rate. According to sub-sector data, the transport, information & communication sector saw the fastest rises in both new sales and activity.

On the back of increased new work inflows, backlogged work accumulated at a substantial rate again in February. This was despite employment levels rising at a record rate in February to support ongoing workloads.