Production further shrinks in October in Singapore
Singapore’s overall factory activity sank further in October, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) has shown.
Singapore (VNA) – Singapore’s overallfactory activity sank further in October, data from the SingaporeInstitute of Purchasing and Materials Management (SIPMM) has shown.
The Purchasing Managers’ Index (PMI) dipped afurther 0.2 point to post a second straight month of contraction at 49.7 inOctober.
A reading below 50 on the index indicatescontraction from the previous month; one above 50 means growth. The October’sreading was attributed to a faster contraction in the key indices of neworders, factory output and inventory, SIPMM said.
The electronics PMI slid 0.3 point to 49.1 as aresult of a sharper contraction in the key indices of new orders, new exports,factory output, inventory and employment.
According to analysts, uncertainties in theglobal trade environment, coupled with mounting cost pressures, are weighing ondemand despite the year-end festive season./.
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Illustrative image (Photo: AFP) 
