SINGAPORE (Thomson Financial) - The Purchasing Managers' Index (PMI)
continued to fall in April due to continued weakness in the manufacturing
sector, which is reeling from falling exports, the Singapore Institute of
Purchasing & Materials Management said Monday.
The overall manufacturing PMI fell to 49.3 points in April from 49.4 points
in March, the institute said. A reading below 50 indicates a contraction.
"The marginal dip in the overall PMI was attributed to further decline in
export orders as well as continued contractions in production output and
employment," the institute said.
While the electronics sector continued to expand, the rate of expansion
slowed, it said.
The continued expansion in the electronics sector was due to an increase in
production and inventory. Employment in the sector, however, continued to
contract.
Last month, U.S. telecom giant Motorola Inc said it will shut down its
mobile phone manufacturing facility in the city-state as part of the company's
$500 million global cost-cutting efforts. The company is retrenching about 700
workers at the Singapore facility.
($1=S$1.36)
jonathan.burgos@thomsonreuters.com
jb/zr
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