The growth of Singapore's private sector persisted into December, although it was not as robust as in previous months, according to the latest survey by S&P Global released on Monday, which reported a PMI score of 51.1. This figure, slightly down from November's 51.2, still indicates expansion, remaining above the critical threshold of 50 that differentiates growth from contraction.
The increase in incoming new orders continued but at the slowest rate observed in the last three months, influenced by a modest decline in new business from overseas, particularly from Mainland China. Reports indicate that subdued global conditions and apprehensions regarding potential U.S. tariffs have dampened export demand.
Despite these challenges, stronger domestic client engagement and expanding customer bases contributed to an uptick in new work inflows. This fostered a third consecutive, albeit minor, rise in business activity, with the wholesale and retail sectors experiencing the most notable increases.
