Singapore’s PMI records third straight contraction in November amid weak global demand

SINGAPORE’S overall factory activity contracted for the third straight month in November, as manufacturing sentiment continued to deteriorate across the region due to cooling global demand.

The Purchasing Managers’ Index (PMI) nudged up 0.1 point in November, but was still in contraction territory at 49.8, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) showed on Friday (Dec 2). A reading below 50 on the index indicates contraction from the previous month; one above 50 means growth.

November’s reading was attributed to a slower contraction in the key indices of new orders, factory output and inventory, SIPMM said.