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Singapore's manufacturing PMI contracts in January

Xinhua, February 3, 2015 Adjust font size:

The purchasing managers' index of Singapore posted a reading of 49.9 for January, mainly due to a continued decline in new orders and inventory, the Singapore Institute of Purchasing & Materials Management (SIPMM) said on Tuesday.

The figure, although already an improvement from December's 46. 6, is the second consecutive month of staying below 50.

A reading above 50 indicates that the manufacturing sector is generally expanding, while a reading below 50 indicates contraction.

A corresponding index for the electronics sector remained at 50. 5, the 24th straight month of expansion. The increase was due to growth in new orders and production output.

The manufacturing sector accounts for about one fifth of Singapore's gross domestic product. Endi