Singapore: Growth in private sector slows

Singapore: Growth in private sector slows

Thursday, 4 August 2016 – Growth across Singapore’s private sector eased last month as output and new orders expanded more slowly, according to a new survey.

The broad-based Nikkei Singapore Purchasing Managers’ Index (PMI) came in at 50.7 for July, lower than June’s 52.3.

Readings above 50 signal an improvement in business conditions on the previous month while those below indicate contraction.
Still, the data indicates that weak foreign demand continued to weigh on new business growth, with a further steep decline in new export sales recorded in July.

Both staff numbers and purchasing activity also fell over the month as companies adopted a more cautious approach.

Unlike a PMI survey released earlier this week that covers manufacturing firms only, the Nikkei measure is based on data from monthly questionnaires filled by executives at about 400 private sector firms. Read More?