The private sector in Singapore continued to expand in August, albeit at a slower pace, the latest survey from Markit Economics showed on Friday with a PMI score of 52.1.
That’s down from 56.7 in July, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Private sector expansion continued at a strong rate in August amid the easing of mobility restrictions in Singapore. Demand and output rose further, although buying activity and employment levels declined. Supply constraints persisted but price pressures eased for private sector firms. Overall sentiment remained positive in August.
The further easing of COVID-19 restrictions in August provided a boost for demand and business activity in the month. Both new orders and output recorded their ninth straight months of increases, though the rates of growth eased from July’s highs. Foreign demand likewise rose in August but was seen at a slower rate when compared to overall new orders.