Singapore February PMI records sharpest fall in 2 years

Singapore

SINGAPORE'S manufacturing sentiment in February saw its sharpest decline in nearly 2 years, due in part to seasonal reasons, although firms also appear to have been spooked by the escalating tensions between Russia and Ukraine.

The Purchasing Managers' Index (PMI) fell 0.4 point to 50.2 last month, according to the Singapore Institute of Purchasing and Materials Management (SIPMM) on Wednesday (Mar 2).