Singapore’s private sector economy continued to expand in May, albeit at a slower pace, the latest survey from Nikkei revealed on Thursday with a business PMI score of 52.1.
That’s down from 53.3 in April, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, the upturn in demand was sustained and output expanded further, but new business from overseas declined.
Employment growth remained above the historical average. Meanwhile, price hikes from suppliers and greater market prices for certain materials led overall input costs to inflate.
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