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[ Wed, Jan 22nd 2025 ]: Reuters

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Singapore's private sector output growth slows in December

Weaknesses were observed in the construction, consumer services, and finance and insurance sectors. Singapore's purchasing manager's index (PMI) continued to improve in December, but at a slower pace,
The article from MSN discusses the slowdown in Singapore's private sector output growth in December, as indicated by the latest Purchasing Managers' Index (PMI) data. The PMI, which measures the prevailing direction of economic trends in the manufacturing and services sectors, dropped to 54.8 from November's 56.2, signaling a slower pace of expansion. Despite the decline, any PMI reading above 50 still indicates growth. Key factors contributing to this slowdown include weaker demand conditions, with new orders and export orders both seeing reduced growth rates. However, employment in the private sector continued to rise, and there was a slight increase in business confidence for the upcoming year. The article also notes that while inflation pressures eased, input costs remained high, affecting business operations. Overall, the data suggests a cautious optimism for Singapore's economic outlook, with businesses adapting to a more challenging environment.

Read the Full MSN Article at:
https://www.msn.com/en-sg/money/economy/singapore-s-private-sector-output-growth-slows-in-december/ar-AA1xC8hD