Singapore’s September PMI weakest in almost three years
Singapore’s Purchasing Managers’ Index (PMI) fell to 48.6 in September, the lowest reading since December 2012.
Illustrative image (Photo: AFP/VNA)Singapore’s Purchasing Managers’ Index (PMI) fell to 48.6 in September, the lowest reading since December 2012.
This was the third straight month Singapore’s PMI sank to below 50, an indication of a contraction in factory activity.
The Singapore Institute of Purchasing and Materials Management said contributing factors to the drag included declines in new orders and production output along with inventory expansions.
Economists said the chance of a technical recession for the third quarter is relatively high, which could hamper Singapore’s ability to meet its growth targets this year.
They added that Singapore probably is facing a double-sided compound from lacklustre external demand and domestic constraints from higher costs, tight manpower supply and decreasing production competitiveness.
The PMIs for China, the Republic of Korea and Malaysia also decreased but there were some stabilisations and improvements. Indonesia, India and Vietnam also reported weaker September PMIs compared to the previous month.-VNA
You should also see
China’s fishing ban in East Sea violates Vietnam’s sovereignty: spokesperson
Foreign Ministry spokesperson Pham Thu Hang on April 25 said Vietnam’s consistent stance on China’s fishing ban in the East Sea, which has been affirmed clearly over the past years.
See more
ASEAN
ASEAN Future Forum 2024 wraps up in Hanoi
The ASEAN Future Forum 2024 (AFF 2024) wrapped up in Hanoi on April 23 after a day of productive discussions.
ASEAN
ASEAN Future Forum 2024 looks to ensure comprehensive security for community
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
ASEAN
ASEAN Future Forum 2024 enters first session
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
ASEAN
Canada, ASEAN consolidate climate change response, economic cooperation
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN
ASEAN youth empowered to unleash potential: ASEAN chief
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
