SINGAPORE, Oct 5 (NNN-CNA) – Singapore Institute of Purchasing and Materials Management (SIPMM), announced last night that, the Singapore purchasing managers’ index (PMI), an early indicator of manufacturing activity, declined slightly from 50.9 in Aug, to 50.8 in Sept.
This is the second consecutive month for the PMI reading to decline. Despite a trend of slowing growth in the non-electronics sector, the overall manufacturing sector had recorded 15 months of consecutive expansion, SIPMM said.
A PMI reading above 50 indicates expansion, while a reading below 50 indicates contraction.
Meanwhile, the PMI of Singapore’s electronics sector posted an increase of 0.2 points from the previous month, to record a faster rate of expansion at 51.2 in Sept.
This is the 14th month of expansion for the electronics sector.– NNN-CNA