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Singapore's PMI falls for 8th month in February

Xinhua, March 2, 2016 Adjust font size:

Singapore's manufacturing activity has fallen to its lowest level since December 2012 and this is the eighth month of contraction, local media reported on Wednesday.

The report by Singapore Institute of Purchasing and Materials Management (SIPMM) showed that Singapore's Purchasing Managers' Index (PMI) for February fell to 48.5, down from 49.0 in January.

A reading below 50 indicates contraction. The latest reading is slightly weaker than the median forecast by private sector economists in a Bloomberg poll.

SIPMM said weaker activity in the electronics cluster, which has been contracting each month since July last year, weighed down the reading for February. Enditem