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Singapore's private sector economy continued to contract in March, and at a much steeper pace, the latest survey from IHS Markit showed on Friday with a record low PMI score of 33.3.
That's down sharply from 47.0 in February and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Individually, business activity fell at the sharpest rate since the survey began in 2012.
Export demand plummeted as COVID-19 became a global pandemic. Firms cut staffing levels in response to reduced output requirements.