Operating conditions across Singapore's private sector improved in August, with the headline S&P Global Singapore Purchasing Managers' Index (PMI) coming in at 59.4, according to data released on Thursday.
The latest reading, which tracks overall economic activity across the private sector, rose from 59.2 recorded 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 new orders, which showed faster improvement than in July. This improvement counterbalanced a weaker upturn in output.
New business growth drove increases in both capacity and input requirements, while hiring increased sharply to its fastest pace since February.
