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Singapore's Private Sector Growth Quickens in July, S&P Survey Shows

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Operating conditions across Singapore's private sector improved at a faster rate in July, with the headline S&P Global Singapore Purchasing Managers' Index (PMI) coming in at 59.2, according to data released on Wednesday.

The latest reading, which tracks overall economic activity across the private sector, compared with 57.4 in the previous month. A reading above 50 indicates an expansion in private sector performance, while a figure below signals a contraction.

The monthly momentum was primarily driven by a stronger rise in output amid increased new orders. While input cost pressures remained elevated in July, suppliers failed to pass them on to consumers as inflation softened.

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