Feb electronics PMI sinks to seven-year low on Covid-19 fears
Contraction of 47.6 reverses January's optimism and ends brief one-month reprieve
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THE coronavirus outbreak has cast a pall on Singapore's manufacturing and electronics sentiment in February, even though both were on the brink of recovery just a month ago, a development that was no surprise to economists.
The Purchasing Managers' Index (PMI) for the electronics sector sank 2.5 points to record a contraction of 47.6 in February, reversing January's optimism and ending the brief one-month reprieve that came after 14 straight months in the dumps, according to the Singapore Institute of Purchasing and Materials Management (SIPMM) on Tuesday.
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