Singapore: Manufacturing PMI falls to one-year low
November 5, 2012
In October, the manufacturing PMI elaborated by the Singapore Institute of Purchasing & Materials Management (SIPMM) fell to 48.3 points from 48.7 points in September. The figure marked the fourth consecutive monthly decline and drove the index to its lowest level since September 2011. Consequently, the index fell further below the 50-point threshold, which indicates a contraction in the manufacturing sector. The October print mainly reflected a contraction in seven out of the nine categories that compose the index, with the imports category reaching the lowest level. Stocks of purchases, 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 October, the index fell to 47.5 points from 50.0 points in September, the lowest level seen in 13 months.