Dec PMI hints at soft Q1 for S'pore manufacturers

[SINGAPORE] Singapore's manufacturing sector shrank in December, as a key barometer of industrial activity pointed to contraction for the first time in 10 months.

December's purchasing managers' index (PMI), the first industrial indicator released this new year, fell to a reading of 49.7, bucking the market's consensus forecast of 51.1, following November's 50.8 reading. A reading above 50 indicates expansion while one under 50 denotes contraction.

Economists said this suggested a soft start for industrial production this year and reinforced their longer-term view that local manufacturers may not reap the full benefits of the global recovery due to structural domestic issues such as labour supply...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to