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Financial News: Singapore Private Sector PMI Slides In August -

Singapore Private Sector PMI Slides In August - IHS Markit

09/02/2020 - 20:52:00 (RTTNews)

(RTTNews) - Private sector business conditions in Singapore continued to worsen in August, and at a faster rate, the latest survey from IHS Markit revealed on Thursday with a PMI score of 43.6.

That's down from 45.6 in July and it moves farther beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, there was a renewed decline in output, while order book volumes declined at a faster rate and job shedding continued to persist.

The overall weakening sales trend contributed to a development of unused capacity, as reflected by a renewed fall in backlogs of work during August.

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