TOKYO -- Singapore's business activity expanded for the third straight month in May, but the pace of expansion has slowed from a five-month high in the previous month, signaling a weaker pace of growth in the country's private sector economy.
The Nikkei Singapore Purchasing Managers' Index, or PMI, softened to 52.1 in May from 53.3 in April. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.
