Singapore PMI in August loses further momentum

By On September 05, 2018

Singapore PMI in August loses further momentum

TOKYO â€" Singapore's private sector economy grew at a subdued pace in August, due to slower rises in both output and new orders.

The Nikkei Singapore Purchasing Managers' Index, or PMI, fell to 51.1 in August from 53.0 in July, signaling the weakest pace of improvement since the middle of 2017.

A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

Export sales declined again and purchasing activity fell sharply, leading to depletion in input inventories.

The decline in exports “reflected softer global trade conditions,” said Bernard Aw, principal economist at IHS Markit, which compiles the survey.

“Improved business confidence suggests that the current slowdown in economic growth could be temporary,” Aw said.

(Nikkei)

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See Also

  • India Services PMI rise at slower pace in August
  • Japan Services PMI continues to grow in August
  • Hong Kong PMI suffers deterioration in August
  • ASEAN manufacturing PMI picks up growth in August
Source: Google News Singapore | Netizen 24 Singapore

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