Singapore Private Sector Accelerates In August - S&P Global

(RTTNews) - The private sector in Singapore continued to expand in August, and at a slightly faster rate, the latest survey from S&P Global revealed on Thursday with a Purchasing Managers Index score of 59.4.

That's up from 59.2 in July, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Accelerated growth in new orders helped to keep the headline index at an elevated level. The improvement in order books was noticeably steeper than in July and rapid in nature. A pick-up in demand and successful promotional campaigns underpinned the expansion, according to panel member reports.

This improvement counterbalanced a weaker upturn in output. Slowing to a moderate pace, overall growth in activity was the least marked in a year.