Singapore's manufacturing PMI falls to 50.4 in November
Source: Xinhua | 2020-12-04
Singapore Institute of Purchasing and Materials Management (SIPMM) announced on Thursday that the Singapore purchasing managers' index (PMI), an early indicator of manufacturing activity, dipped a marginal 0.1 points from 50.5 for October to 50.4 for November.
This is the fifth month of expansion for the overall manufacturing sector, SIPMM said.
A PMI reading of 50 and above indicates expansion, while a reading below 50 indicates contraction.
Meanwhile, the PMI of Singapore's electronics industry posted a marginal increase of 0.1 points from 51 to 51.1 in November, the highest reading since September 2018 when the reading was 51.4. This is the fourth month of expansion for the electronics industry.
Sophia Poh, SIPMM vice-president of Industry Engagement and Development, was quoted by the Straits Times as saying that the latest PMI reading indicates the resilience of the overall manufacturing sector, with expansion recorded for the fifth continuous month.
According to latest IHS Markit Purchasing Managers' Index data for ASEAN published on Tuesday, Singapore's manufacturing PMI in November was 51.7.
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