Singapore's PMI declined 1.6 points over the previous month


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melvin

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Singapore's PMI declined 1.6 points over the previous month
By Tung Shing Yi, Channel NewsAsia | Posted: 04 September 2007 2221 hrs

SINGAPORE: Singapore's manufacturing sector continued to expand for the third straight month in August, but at a slower rate.

The Purchasing Managers' Index (PMI) for August posted a reading of 51.7 - a decline of 1.6 points over the previous month.

The drop was attributed to fewer new orders as well as lower production output and inventory.

A reading above 50 indicates that the manufacturing economy is generally expanding.

The corresponding index for the electronics sector, which has expanded for the 13th consecutive month, came in at 53.4 – a decline of 0.5 point over the previous month.

The dip suggests relatively weaker growth in new orders from both domestic and overseas markets.


- CNA/so
 

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