Singapore: Manufacturing PMI drops for third straight month
October 2, 2012
In September, the manufacturing PMI elaborated by the Singapore Institute of Purchasing & Materials Management (SIPMM) fell to 48.7 points from 49.1 points in August. The figure marked the third consecutive monthly decline and drove the index to its lowest level since January. Consequently, the index fell further below the 50-point threshold, which indicates a contraction in the manufacturing sector. The September deterioration mainly reflected a contraction in eight out of the nine categories that compose the index, with the new orders category suffering the largest loss. Finished goods, on the other hand, improved and edged up above the 50-point threshold. Meanwhile, a separate PMI elaborated for the all-important electronics sector deteriorated over the previous month. In September, the index fell to 50.0 points from 50.7 points in August.