The private sector in Singapore continued to expand in December, albeit at a slower pace, the latest survey from S&P Global revealed on Tuesday with a PMI score of 54.1.
That’s down from 55.4 in November, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Business activity expanded at the end of the fourth quarter on the back of greater new work inflows. Better underlying demand and marketing promotions prompted the uplift in new orders. Although the rates of new business and activity growth both eased to four-month lows, they remained sharp overall.
Higher new work inflows contributed to higher levels of unfinished work in December. This was also partly driven by a reduction in workforce capacity. Resignations and reduced part-time employment among companies contributed to the first decline in overall headcounts in four months, though the decrease was only marginal.
For comments and feedback contact: editorial@rttnews.com
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
