Singapore factory growth lowest since last July

The electronics sector marked its first contraction after 27 straight months of growth in November, dipping 0.1 point to 49.8 last month.
The electronics sector marked its first contraction after 27 straight months of growth in November, dipping 0.1 point to 49.8 last month. PHOTO: ST FILE

Factory growth in Singapore slowed again, marking the lowest recorded reading since July last year.

The overall Purchasing Managers' Index (PMI) dipped 0.4 point last month to 51.1. A reading above 50 indicates growth.

The electronics sector marked its first contraction after 27 straight months of growth in November, dipping 0.1 point to 49.8 last month, according to the Singapore Institute of Purchasing and Materials Management.

The downtrend in Singapore's PMI follows a slowdown in Asia in places like China, South Korea and Taiwan, amid a weaker global outlook for the electronics sector.

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A version of this article appeared in the print edition of The Straits Times on January 04, 2019, with the headline 'Singapore factory growth lowest since last July'. Print Edition | Subscribe