PMI below 50 on regional manufacturing weakness
The early barometer of industrial activity in July falls 0.7 point to 49.7 after 2 straight months of rises
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Singapore
SINGAPORE'S manufacturers have turned more bearish, going by the latest Purchasing Managers' Index (PMI). Slipping 0.7 point to 49.7, the early barometer of industrial activity reverted to contraction mode in July after rising for two straight months.
The retreat was in line with other dismal and contractionary readings across Asia - especially in places such as Malaysia, Indonesia, China and Taiwan - reflecting worsening operating conditions amid weak global demand.
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