Singapore's manufacturing PMI declines to 50 in August
Sep 03, 2022
Singapore, September 3: The Singapore purchasing managers' index (PMI), an early indicator of manufacturing activity, edged down 0.1 points from the previous month to remain on expansion at 50 this August.
The overall manufacturing sector had recorded 26 consecutive months of expansion, the Singapore Institute of Purchasing and Materials Management (SIPMM), which publishes the Singapore Purchasing Managers' Index on a monthly basis, said on Friday night.
Singapore's electronics sector PMI decreased by 0.9 points from July to 49.6 in August. This means the electronics sector reverted to a contraction after recording 24 months of consecutive expansion.
Sophia Poh, SIPMM's vice president of industry engagement and development, said that the overall manufacturing sector had recorded growth moderation as a result of a weakened electronics sector.
Source: Xinhua
