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Financial News: Singapore Private Sector Picks Up Steam In June

Singapore Private Sector Picks Up Steam In June - S&P Global

07/02/2024 - 20:53:00 (RTTNews)

(RTTNews) - The private sector in Singapore continued to expand, and at a faster rate, the latest survey from S&P Global showed on Wednesday with a PMI score of 55.2.

That's up from 54.2 and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Supporting the latest uptick in the headline PMI index were improvements across measures of output, new orders, employment and suppliers' delivery times. Business activity expanded at the fastest pace in 20 months amidst a sharp uptick in new business.

According to survey respondents, better underlying demand and business development efforts by Singaporean firms underpinned the latest rise in new sales. Detailed sector data further revealed that firms in the real estate & business service sector saw the most pronounced increases in both new business and activity.

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