Singapore factory activity rebounds from 11-year low but stays in contraction mode

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SINGAPORE - A gauge of manufacturing conditions in Singapore bounced off its worst level in 11 years, but remained within the contraction territory.. Read more at straitstimes.com.

SINGAPORE - A gauge of manufacturing conditions in Singapore bounced off its worst level in 11 years, but remained within the contraction territory.

Ms Sophia Poh, SIPMM's vice-president of industry engagement and development, said:"Despite weaker supply chain operations arising from last month's extended local circuit breaker measures, the latest improved PMI readings indicate the resilience of the local manufacturing sectors. DBS Bank's senior economist Irvin Seah said:"This is definitely the first glimmer of hope amidst an otherwise very gloomy economic climate."

The supplier deliveries posted a faster rate of contraction. The employment index contracted for a fourth straight month. He said pharmaceutical production and exports may continue to support Singapore's overall manufacturing and trade environment.

 

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