| |
SINGAPORE: Singapore's manufacturing industry contracted for the second consecutive month in April.
The Purchasing Managers' Index (PMI), compiled by the Singapore Institute of Purchasing & Materials Management, showed a reading of 49.3, a marginal decline of 0.1 point over March.
A reading above the 50-point level indicates the manufacturing sector is generally expanding, while a reading below 50 shows it is shrinking.
The contraction in manufacturing was due to further declines in new orders, production output and employment. Overall, imports grew along with input prices.
Meanwhile, the corresponding electronics sector continued to grow on the back of new order growth from overseas.
The index posted a reading of 50.2, a 0.5-point dip from a month ago, but its 21st consecutive month of expansion.
The monthly PMI figures are closely watched because the manufacturing sector accounts for a quarter of the Singapore economy. - CNA/vm
|
