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Singapore's manufacturing economy continues to shrink

Xinhua, May 4, 2015 Adjust font size:

Singapore's manufacturing economy continued to shrink in the fifth straight month. The Purchasing Managers' Index (PMI) read 49.4 points in April, which declined 0. 2 points over the previous month.

A reading below 50 signals that manufacturing economy is shrinking. According to the Singapore Institute of Purchasing and Materials Management, the contraction in April was due to a further decline in new orders and new export orders.

Singapore's electronics sector also contracted in April. The electronics PMI fell to 49.1, down by 1.0 point over the previous month.

Analysts said that weak global demand has put a damper on Singapore's export-driven manufacturing sector. Other regional economies also witness contraction in manufacturing. Endi