Manufacturing sector in Singapore weakens

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SG computer plantThe latest survey on Singapore’s manufacturing activity shows that the sector expanded at a slower pace in August than in the previous month.

The Singapore Institute of Purchasing & Materials Management’s Purchasing Managers’ index (PMI) fell to 50.5 last month from 51.8 in July, but stayed above the 50-point level that separates expansion from contraction for a 5th consecutive month. The s PMI for the electronics sector, however, rose to 51.3 in August from 50.3 in July.

“The decline in the overall PMI was attributed to lower new orders as well as a lower level of production output,” the institute said in a statement.

Singapore exports most of what it manufactures and its total trade is around 3 times its GDP.

Meanwhile, Singapore’s non-oil domestic exports fell slightly in July, roughly in line with expectations. The city-state said shipments from locally-based manufacturers excluding oil products fell 0.7 per cent month-on-month in July after seasonal adjustments, reversing from June’s 3.3 per cent gain.

Singapore’s total trade rose by 5.8 per cent in July 2013, turning around from the 6.2 per cent decrease in the previous month, trade agency International Enterprises Singapore said.

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Reading Time: 1 minute

The latest survey on Singapore’s manufacturing activity shows that the sector expanded at a slower pace in August than in the previous month.

Reading Time: 1 minute

SG computer plantThe latest survey on Singapore’s manufacturing activity shows that the sector expanded at a slower pace in August than in the previous month.

The Singapore Institute of Purchasing & Materials Management’s Purchasing Managers’ index (PMI) fell to 50.5 last month from 51.8 in July, but stayed above the 50-point level that separates expansion from contraction for a 5th consecutive month. The s PMI for the electronics sector, however, rose to 51.3 in August from 50.3 in July.

“The decline in the overall PMI was attributed to lower new orders as well as a lower level of production output,” the institute said in a statement.

Singapore exports most of what it manufactures and its total trade is around 3 times its GDP.

Meanwhile, Singapore’s non-oil domestic exports fell slightly in July, roughly in line with expectations. The city-state said shipments from locally-based manufacturers excluding oil products fell 0.7 per cent month-on-month in July after seasonal adjustments, reversing from June’s 3.3 per cent gain.

Singapore’s total trade rose by 5.8 per cent in July 2013, turning around from the 6.2 per cent decrease in the previous month, trade agency International Enterprises Singapore said.

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