Home > Community > Financial Markets > Singapore Oct PMI expands at slowest pace since April

Singapore Oct PMI expands at slowest pace since April

Published: 03 Nov 2009 17:35:45 PST

* PMI pulls back to lowest reading since April

* Manufacturing sector still expanding... but only just

* Electronics contracts first time since March

* New export orders expanding again after contraction

SINGAPORE, Nov 3 - Singapore Institute of Purchasing & Materials Management released on Tuesday the purchasing managers' index, a leading indicator for manufacturing: Purchasing Managers' Index and components:

Oct Sept Aug July June May April March Feb Jan PMI 50.2 50.6 54.4 51.5 51.1 51.2 49.2 47.1 45.0 45.0 Electronics

Oct Sept Aug July June May April March Feb Jan

49.6 52.4 55.2 55.0 55.0 52.9 51.6 48.8 43.8 43.6 New Export orders

Oct Sept Aug July June May April March Feb Jan

51.3 49.5 53.1 50.5 50.9 50.3 48.6 46.1 43.4 41.6

CONTEXT

* The October PMI shows that manufacturing has expanded for the sixth month, but growth is the weakest since the sector emerged in May from a period of contraction.

* A contraction in electronics, the first time in six months, weighed on the headline index. Production output and stocks continued to expand but at a slower rate.

* A reading above 50 indicates the manufacturing industry is expanding, while a figure below 50 signals contraction.

* September non-oil domestic exports fell 7.2 percent from a year earlier, marking the 17th straight month of annual contraction.


Source: Reuters

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