Singapore PMI contracts in Feb for third month in a row

Singapore

THE Singapore Purchasing Managers' Index (PMI) contracted for the third straight month in February with a reading of 49.7 points, dipping 0.2 point from January, as new orders continued to decline.

While lower than January's figure, the PMI for February was a touch above the 49.6 points recorded in December last year, which followed three months of expansion.