Singapore PMI edges up to 50.6 in February, but Gulf conflict fuels oil uncertainty
The Purchasing Managers’ Index for the electronics sector grows by 0.2 point to 51.3
[SINGAPORE] Factory activity in Singapore grew modestly in February, supported by stronger new orders and exports, but escalating tensions in the Middle East and higher oil prices have raised fresh supply-side risks.
The Purchasing Managers’ Index (PMI) edged up 0.1 point from January to 50.6 last month, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) showed on Monday (Mar 2). This marks the seventh straight month of expansion. A reading above 50 indicates expansion, while one below 50 indicates decline.
Within manufacturing, the PMI for the lynchpin electronics sector likewise grew by 0.2 point to 51.3, marking the ninth consecutive month of expansion.
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