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Singapore’s Dec manufacturing PMI continues to show contraction

by ChemOrbis Editorial Team -
  • 06/01/2016 (13:07)
According to a Purchasing Managers’ Index (PMI) released by the Singapore Institute of Purchasing and Materials Management, the country’s manufacturing activities slightly improved in December while still signaling a contraction for the sixth straight month. The December PMI climbed to a reading of 49.5 from a reading of 49.2 in November. Any reading below 50 indicates a contraction.

The data also showed that the electronics index posted its sixth consecutive contraction, declining to a reading of at 48.9 from November’s 49. Production output contracted further while inventory levels returned to expansionary territory.

The contraction in the manufacturing sector was led by declining new orders from both domestic and external markets. Some economists commented that Singapore’s manufacturing sector needs to see major improvement in external demand in order to carry the sector into expansionary territory.
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