ZCZC
BCN-21
SINGAPORE-ECONOMY-MANUFACTURING
Singapore’s manufacturing PMI falls to 51.9 in October
SINGAPORE, Nov. 3, 2018 (BSS/Xinhua) – Singapore Institute of Purchasing
and Materials Management (SIPMM) announced on Friday the country’s purchasing
managers’ index (PMI), an early indicator of manufacturing activity, declined
by 0.5 points to 51.9 for October.
It marks the 26th month of consecutive expansion of Singapore’s
manufacturing sector. Meanwhile, the PMI of Singapore’s electronics industry
dropped from 51.4 to 50.5, marking the 27th month of consecutive expansion of
Singapore’s electronics industry.
A PMI reading of 50 and above indicates expansion, while a reading below
50 indicates contraction.
Selena Ling, Head of Treasury Research & Strategy of OCBC Bank, said the
declines of PMI readings were dragged by the trade headwinds and moderating
electronics momentum, as “global trade tensions have begun to bite.”
She said the downside growth risks for Asia- Pacific’s regional
manufacturing and trade activities cannot be ignored in the interim, despite
of the recent good news for trade tensions. As for Singapore, its
manufacturing growth for the fourth quarter of this year is likely to be
poised on a relatively lacklustre footing, and may soften further into the
first quarter of 2019, Ling added.
BSS/XINHUA/HR/1135