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Why Singapore's manufacturing PMI for September disappoints analyst
It remained unchanged at 50.5.
According to OSK, Singapore’s September purchasing managers’ index (PMI) remained at 50.5, unchanged from the reading of August with 50-point being the threshold for expansion.
OSK noted, however, that there are worrying signs which indicate a slowdown in growth. The electronics PMI fell to 50.3 from 51.3 one month earlier, whereas overall new export orders also dropped from 53.4 to 51.1. Furthermore, the readings also came in below the market expectation as they had been expecting an overall PMI of 51.2 and an electronics PMI of 50.7.
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