Singapore: Manufacturing PMI moderates in February
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) dropped to 52.7 in February from 53.1 in January. Although the manufacturing sector moved closer to the 50-point threshold that separates expansion from contraction in the manufacturing sector, it logged an 18th consecutive month of expansion.
February’s result reflected a broad-based moderation in nearly all categories. Growth in new export orders, new orders and output slowed in the month, while employment also increased at a less brisk pace.
The electronics PMI moderated slightly, from 52.9 in January to 52.1 in February. While it slipped for the third consecutive month, it still signaled healthy expansionary conditions.