TOKYO -- The Nikkei Singapore Purchasing Managers' Index, or PMI, rose to 52.2 in March from 51.4 in February.
A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.
"Singapore's private sector registered a pick-up in growth at the end of the first quarter, on the back of stronger expansions in output and new orders," said Bernard Aw, an economist at IHS Markit which compiles the survey. "However, delving a little deeper into the data revealed some worrying trends. March saw a sharp increase in cost pressures, the steepest in over three-and-a-half years, as wage inflation gained momentum. At the same time, prices charged for Singaporean goods and services rose only modestly, indicating an ongoing squeeze on margins."
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