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SINGAPORE : Singapore's manufacturing economy expanded for the sixth straight month in October, but at a slower pace, according to data released on Tuesday.
The Purchasing Managers' Index (PMI) slipped to 50.2 last month, from a reading of 50.6 in September.
A reading above 50 indicates that the manufacturing economy is generally expanding.
The dip in the PMI was attributed to lower new orders and a drop in production output and inventory. The reading was also dragged down by first-time contraction in stocks of finished goods and imports.
However, the PMI survey said new export orders and employment expanded.
Meanwhile, the electronics sector contracted for the first time after six consecutive months of expansion. The index for the electronics sector stood at 49.6 in October, down 2.8 points from September's 52.4.
The decline in the electronics PMI was due to a drop in new orders from domestic and overseas markets. Production output and stocks of finished goods also contracted.
Some economists said the pullback in manufacturing and electronics was inevitable, given the sharp run-up in July and August.
However, they voiced concern about the contraction in electronics. Economists said companies were not seeing a sustained demand, despite Christmas being around the corner.
- CNA/al
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