Private sector business in Singapore continued to contract in September, and at a faster rate, the latest survey from HIS Market revealed on Thursday with a seven-year low PMI score of 48.3.
That’s down from 48.7 in August and it moves farther beneath the boom-or-bust line of 50 that separates expansion from contraction.
Individually, demand deteriorated further, prompting more output cutbacks. Export orders fell markedly and employment was reduced as a result.
Businesses maintained a subdued outlook for the year ahead.
The material has been provided by InstaForex Company – www.instaforex.com