Singapore's PMI slips to below 50 in December
Index for Singapore
Singapore - XINHUA
The Purchasing Managers' Index for Singapore's manufacturing sector came in at 49.6 for December, the lowest reading since February 2013, local media reported on Tuesday.
It represents a drop of almost two points from the reading of 51.8 points in November. The drop was largely due to a contraction in new orders and slower growth in export orders, according to the latest index.
A reading above 50 indicates that the manufacturing sector is generally expanding, while a reading below 50 suggests contraction.
Meanwhile, the corresponding index for the electronics sector posted its 23rd straight month of expansion, coming in at 50.5, though it was a marginal dip from the previous month's reading of 50.6
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