The private sector in Singapore continued to expand in March, and at a faster rate, the latest survey from S&P Global revealed on Tuesday with a PMI score of 52.9.
That’s up from 52.5 in February, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Output growth in Singapore’s private sector continued in March, supported by a strong expansion in demand, albeit both slowing from February. Sub-sector data showed the real estate & business services sector saw the strongest expansion in activity over March.
Foreign demand for Singapore goods and services also continued to increase, although higher costs of shipping and delays affected client demand from abroad for some firms.