Singapore PMI Fades In January - S&P Global

(RTTNews) - Singapore's private sector continued to expand in January, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a PMI score of 54.7.

That's down from 55.7 in December, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Demand for Singaporean goods and services remained strong at the start of the year as improvements in underlying demand conditions and promotion efforts buoyed new business according to panelists. This led to a 13th monthly rise in business activity at the start of the year, led by the wholesale & retail sector. The rates at which incoming new business and activity increased slowed from December but remained solid by historical standards.

In contrast, new orders from abroad fell at a more pronounced rate, affected by heightened competition and a relatively strong domestic currency.