Singapore February factory activity shrinks

SINGAPORE: Activity in Singapore’s manufacturing sector contracted for the third straight month in February as new orders declined, with the key electronics index shrinking for the first time in more than two years, a survey showed.

The Singapore Institute of Purchasing & Materials Management’s Purchasing Managers’ Index (PMI) fell to 49.7 in February from January’s 49.9.

The index has been below 50 since December. That level separates contraction from expansion on a monthly basis. — Reuters