Singapore’s private sector activity expanded at the fastest pace in five months in June, survey figures from Markit Economics showed Tuesday.
The Nikkei Purchasing Managers’ Index, or PMI, climbed to 52.3 in June from 50.1 in May. Any reading above 50 indicates expansion in the sector.
New orders grew at the sharpest rate since March, there by ending two-month sequence of reduction. At the same time, new export orders fell for the fourth straight month in June.
Output growth reached to a three-month high in June. Despite the renewed increase in total new work, companies reported lower staff numbers for the fourth month running.
On the price front, cost burdens broadly stabilized in June. Meanwhile, the use of promotional activities led to a renewed fall in average output prices.
“With rising uncertainty overseas, including the recent Brexit decision, it will be important to monitorthe PMI data in the coming months to see whether
growth momentum is sustained into the second halfof the year,” Annabel Fiddes, Economist at Markit, said.
The material has been provided by InstaForex Company – www.instaforex.com