Singapore: Manufacturing PMI points to a stronger contraction in April
The Singapore Institute of Purchasing and Materials Management Manufacturing PMI fell to 49.7 in April from March’s 49.9. As a result, the index moved deeper into contractionary terrain.
The headline print reflected a sharper deterioration in new orders, exports and employment. Moreover, factory output and inventories both remained in contractionary territory. The PMI for the electronics sector, which accounts for 42% of Singapore’s industrial output, came in at 49.2 in April, down from March’s 49.4.