The private sector in Singapore continued to contract in November, and at a faster pace, the latest survey from Markit Economics showed on Thursday with a services PMI score of 46.7.
That’s down from 48.6 in October, and it moved further beneath the boom- or-bust line of 50 that separates expansion from contraction.
Individually, output fell back into contraction and there was a sharper fall in demand, while [business][1] confidence also slipped.
Employment was reduced further and at the fastest rate for three months as operating capacity remained in surplus.
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