S'pore PMI shrinks in Nov

Singapore's manufacturing industry shrank for the third consecutive month in November as new export orders slipped and the tech sector contracted on the back of a worsening global economy.

The Singapore Institute of Purchasing & Materials Management said on Tuesday its purchasing managers' index - a leading indicator for the manufacturing industry - stood at 44.3 in November, down from 45.8 in October.

A reading below 50 points indicates that the manufacturing sector is contracting.

The contraction was due to a fall in overall new orders and new export orders, as well as declining levels in production output, imports and employment.
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(Source: BT 2 Dec 08)