Singapore: Manufacturing sector shrinks for sixth straight month
January 3, 2013
In December, the manufacturing PMI elaborated by the Singapore Institute of Purchasing & Materials Management (SIPMM) fell to 48.6 points from 48.8 points recorded in November. As a result, the index remains below the 50-point threshold for the sixth consecutive month, which indicates a contraction in the manufacturing sector.
The December print reflected a deterioration in six out of the nine categories that compose the index, with the stocks of purchases category recording the largest loss. In addition, the majority of the categories composing the index remained below the 50-point threshold, with the output sub-index falling to its lowest level in almost four years.
Meanwhile, a separate PMI elaborated for the all-important electronics sector deteriorated over the previous month. In December, the index fell to 46.6 points from 47.4 points in November, the lowest level seen in nearly four years.