(RTTNews) - The private sector in Singapore continued to expand in November, albeit at a slower pace, the latest survey from S&P Global showed on Tuesday with a PMI score of 53.9.
That's down from 55.5 in October, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Promotional efforts and rising client interests led to a twenty-third successive monthly expansion in new business. Despite softening to a 16-month low, the rate at which new business rose remained solid. This contributed to a strong rise in private sector output midway through the final quarter of the year.
Detailed sector data revealed that the consumer services sector experienced the sharpest increases in both activity and new sales. Consequent of the solid uptick in new business inflows, backlogs accumulated.
