Singapore Private Sector PMI Slips To 54.1 In June - S&P Global

(RTTNews) - The private sector in Singapore continued to expand in June, albeit at a slower pace, the latest survey from S&P Global revealed on Wednesday with a services PMI score of 54.1.

That's down from 54.5 in May, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Driving the latest private sector expansion was a sustained improvement in new orders. Demand for Singaporean goods and services rose in June, extending the sequence of expansion that commenced at the start of 2023. Foreign demand remained subdued, however, registering a mild contraction in the latest survey period.

In turn, output rose at the fastest rate since last October. Sub-sector data indicated that the real estate & business services sector recorded the sharpest output growth in June.