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Singapore’s April PMI contracts for second month in a row

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Tessa Oh

Tessa Oh

Published Wed, May 3, 2023 · 09:00 PM
    • Singapore's glum manufacturing sentiment is in sync with other regional economies, which also saw manufacturing activity soften in April.
    • Singapore's glum manufacturing sentiment is in sync with other regional economies, which also saw manufacturing activity soften in April. PHOTO: BT FILE

    SINGAPORE’S overall factory activity resumed its downward trajectory in April, echoing the region-wide softening in manufacturing sentiment as external demand remains weak.

    The Purchasing Managers’ Index (PMI) dropped 0.2 point to 49.7 last month, shrinking for the second time in a row, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) showed on Wednesday (May 3).

    A reading below 50 indicates the manufacturing sector is declining, while a reading above 50 means growth.

    Purchasing Managers IndexSingapore manufacturingSingapore economy

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