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Singapore's PMI contracts for fifth month in November

Xinhua, December 3, 2015 Adjust font size:

Singapore's manufacturing activity contracted for the fifth straight month in November, according to the latest data released by the Singapore Institute of Purchasing and Materials Management on Wednesday.

Singapore's latest Purchasing Managers' Index (PMI), a key barometer of the country's manufacturing economy, posted a reading of 49.2, slightly higher than October's 48.9.

A reading above 50 means an expansion in the manufacturing economy, while a reading below 50 indicates contraction.

PMI for the electronics sector came in at 49.0 in November, compared with 48.6 in the previous month. This is the sector's fifth consecutive month of contraction as both new orders from domestic and overseas markets declined further. Production output and inventory continued to contract as well. Enditem