(RTTNews) – The private sector in Singapore moved into expansion territory in December, the latest survey from Markit Economics showed on Wednesday with a PMI score of 50.5.

That’s up from 46.7 in November, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, new orders increased for the first times since January with respondents mentioning stronger demand, a rise in e-commerce sales and promotional activity.

New orders from oversea markets also rose, and at the strongest rate since November 2018. Subsequently, firms raised output during December, which rebounded from November’s relatively solid contraction.

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