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The private sector in Singapore fell into contraction in February, the latest survey from S&P Global showed on Friday with a PMI score of 49.6.
That's down from 51.2 in January, and it slips beneath the boom-or-bust line of 50 that separates expansion from contraction.
Demand for Singaporean goods and services rose in February, but only fractionally compared to the start of the year. Promotional activities supported the latest growth in new orders. Growth was mainly driven by the real estate & business services and consumer services sectors. Foreign demand also saw its rate of growth slow in the latest survey.
As a result of the weak rise in new orders, private sector output was only able to eke out slight gains in February. Lingering issues of supply constraints also led to a further accumulation of backlogged work over the month.
