02 Feb '11, 4am
Purchasing Managers' Index Expanded In January 2011: Fourth consecutive month of growth in manufacturing activity.
Purchasing Managers’ Index (PMI) reflects an expansion in factory output. A sub-50 reading indicates that the manufacturing economy is in decline. The monthly PMI is compiled by the Singapore Institute of Purchasing and Materials Management (SIPMM) . Overall stockholdings of finished goods and employment recorded first-time contractions to finish at 49 points. Meanwhile, input prices such as material and labour costs continued to expand, but at lower readings of 52.6. The electronics PMI was also in growth mode, expanding for the third straight month at 50.8 points - though 1.4 points lower than the previous month. The strong Singapore dollar and volatile input prices remain key concerns for local manufacturers in managing their raw material costs and supply, according to the SIPMM.