SINGAPORE, July 3 (Xinhua) -- The seasonally adjusted S&P Global Singapore Purchasing Managers' Index (PMI) posted 55.2 in June, up from 54.2 in May, marking a continued improvement in private business conditions for 16 straight months, the S&P Global said Wednesday.
Improvements across output, new orders, employment, and suppliers' delivery time supported the PMI index. Business activity in Singapore expanded at the fastest pace in 20 months amidst a sharp uptick in new business, it added.
Average input prices increased in June due to rising purchase prices and wages. Therefore, private firms continued to lift selling prices.
Meanwhile, overall sentiment in the Singaporean private sector remained optimistic in June. The level of confidence climbed to the highest in eight months.
The firms expressed hopes for higher sales and activity with better market conditions and promotion efforts in the year ahead. ■
