Singapore Manufacturing Activity Growth Slows in December
Growth in Singapore's manufacturing activity eased slightly in December, with the local purchasing managers' index showing a marginal decline.
The overall manufacturing PMI was 52.8 last month compared with 52.9 in November, the Singapore Institute of Purchasing & Materials Management said Wednesday.
The data showed the 16th consecutive reading above 50. A reading above 50 indicates expansion.
"The marginal lower reading was attributed to a slower rate of expansion in factory output and inventory," it said. The overall manufacturing activity was primarily supported by a slightly faster rate of expansion in new orders, it added.
The PMI for electronics stood at 53.2 in December, compared with 53.5 in November, the data showed. The decline was mainly attributed to a slower rate of expansion in new orders and factory output, it said.
Anecdotal evidence in the survey suggests electronics manufacturers are "cautiously optimistic" about continued growth for the sector in the new year, the institute said.
Write to Saurabh Chaturvedi at firstname.lastname@example.org
(END) Dow Jones Newswires
January 03, 2018 08:14 ET (13:14 GMT)