She said: "Companies remained in recruitment and procurement in June, and generally maintained cautious optimism. Overall, the relief of cost pressures will help keep commodity prices at low levels, which in turn will contribute to sales growth in the coming months."
The increase in new business orders drove steady growth in business activities in June. According to the report, market demand has risen recently, and merchants have increased their marketing efforts, which has accelerated sales. However, the increase in new orders is still below the long-term average. Corporate procurement activities have declined for the first time in five months. Most companies believe that existing inputs are in stock and are not in a hurry to supplement procurement. Inventory consumption accelerated in June, and some companies used existing inventory to meet order delivery, resulting in a further decline in input inventory.
Pan Jingyi, deputy director of global market finance and intelligence economy, said that although growth has slowed since May, average output growth in the second quarter is still higher than that in the first quarter. In addition, business confidence has once again turned optimistic, and merchants expect output to continue to grow in the next year.
On the other hand, the employment of enterprises continued to tighten, and the number of employees decreased for the seventh consecutive month in June. The company did not fill the vacancies after the personnel left, and part-time jobs were reduced. This trend has resulted in a backlog of unfinished orders. Inflation pressure has eased. Input prices rose slightly in June, reaching a new low in more than five years. Despite rising transportation and supply costs, wage costs have eased overall pressure. Most companies choose not to raise prices to maintain sales, and the average ex-factory price remained the same in June.
Singapore Purchasing Managers Index (PMI) fell from 51.5 in May to 51.0 in June, and remained above the 50 boom line for the fifth consecutive month, reflecting the continued improvement of the business environment.
S&P Global (S&P Global) released the latest data on Thursday (July 3) showing that Singapore's private companies were in a moderate expansion momentum at the end of the second quarter, and the overall business situation in June slowed slightly.
The purchasing manager index is above 50, indicating that the industry is in an expansion state, and below 50 means that the industry is shrinking.