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Singapore PMI March 2023

Singapore: Manufacturing PMI eases in March

The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI fell to 49.9 in March from February’s 50.0. As a result, the index moved into contractionary terrain.

The headline print reflected a weaker a deterioration in new orders and weaker exports. Lastly, output weakened, while inventories contracted at a smaller rate in the surveyed month. The electronics PMI came in at 49.4 in March, up from February’s 49.3.

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