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Chart of the Day: Recent data point to tech & manufacturing sector bottoming out
Downside risks however remain, cautions OCBC.
Recent industry data have provided optimism that conditions in the technology and manufacturing sector may have bottomed out.
Singapore’s electronics exports increased at an encouraging 3.9% YoY for the combined months of Jan and Feb this year.
The electronics PMI also expanded for a second consecutive month in Feb, registering a reading of 51. Similarly, China’s manufacturing PMI grew to 53.1 in Mar, exceeding market expectations and registering its highest reading since Mar 2011.
Nevertheless, OCBC notes that downside risks still exist in the global economy.
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