The private sector in Singapore continued to expand in March, albeit at a slower pace, the latest survey from Markit Economics showed on Tuesday with a PMI score of 53.5.
That’s down from 54.9 in February, although it remains above the boom-or-but line of 50 that separates expansion from contraction.
Individually, output and new order volumes increased for the fourth straight month, while there was stronger growth in staffing levels. Input price inflation softened in March but remained historically elevated.
Business confidence remained in positive territory but eased in the final month of the first quarter. Anecdotal evidence linked uncertain global conditions to the moderation in optimism.