By Saurabh Chaturvedi
Business activity in Singapore expanded at a slower pace in December from the previous month, according to a survey by IHS Markit Ltd. for Nikkei Inc.
The Nikkei Singapore purchasing managers index, which measures private-sector and manufacturing activity, was at 52.0 in December, compared with 52.8 in November. A PMI reading above 50 indicates expansion in manufacturing activity, while a reading below that signals contraction.
The Nikkei PMI was higher than the 50.6 PMI reading for December from the Singapore Institute of Purchasing & Materials Management.
"Private sector companies in Singapore decided to slow down growth of input buying at the end of 2016 despite signs of higher demand," the survey said."A number of panelists pointed towards sufficient stocks as the reason for slower acquisitions of purchased items."
Write to Saurabh Chaturvedi at firstname.lastname@example.org
(END) Dow Jones Newswires
January 04, 2017 21:22 ET (02:22 GMT)
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