03.04.202000:49:00UTC+00Singapore PMI Sinks To Record Low 33.3 In March - IHS Markit

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.