Singapore PMI Data Signals Faster Private-Sector Activity Growth
Dow Jones
Aug 05
0353 GMT - Singapore's private-sector activity continued expanding at a quickened pace last month amid strong demand and faster output growth, the latest S&P Global PMI data suggests. The headline PMI rose to 59.2 in July from June's 57.4. The latest print signals a further substantial improvement in business conditions. Growth in new orders also remained rapid and central to the overall improvement of the private sector, S&P says. However, Singapore's economy faces challenges despite the positive reading, according to S&P Global Market Intelligence economist Eleanor Dennison. Inflationary pressures are still running hot amid higher energy costs, stronger demand for inputs and limited supply, she adds.
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