Singapore Private Sector Picks Up Steam In February - S&P Global

(RTTNews) - The private sector in Singapore continued to expand in February, and at a faster pace, the latest survey from S&P Global revealed on Wednesday with a services PMI score of 59.2.

That's up from 56.8 in January, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

The latest reading indicated that business conditions improved for the thirteenth consecutive month and at the second-fastest pace on record, ranked only behind May 2022. Central to the latest acceleration in growth pace was stronger demand in February. Incoming new orders rose at the quickest pace in one-and-a-half years amid reports of greater new work inflows from both domestic and external sources.

In turn, output increased at a rate that was historically marked. Sub-sector data showed that the transport, information & communication sector recorded the sharpest rise in activity.