The private sector in Singapore continued to expand in April, albeit at a slower pace, the latest survey from Markit Economics showed on Wednesday with a services PMI score of 51.8.
That’s down from 53.5 in March although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Wholesale & retail was the strongest-performing sub-sector in April, whilst the construction sector also supported the headline PMI reading. In contrast, the performances of the manufacturing and services sectors weakened since March.
Improving demand conditions led to a fifth successive monthly increase in output across the Singapore private sector, reflecting further increases in client demand. That said, the rate of expansion in new orders slipped to a four-month low.
The material has been provided by InstaForex Company – www.instaforex.com