The index is a key barometer indicating a nation’s manufacturing activity. A reading above 50 indicates an expansion in output, while those below 50 point to industry shrinkage.
SINGAPORE (May 5): Lockdowns and movement control orders imposed globally to contain the spread of the novel coronavirus has been weighing on factory output around the world. And Singapore is no exception.
Data released by the Singapore Institute of Purchasing and Materials Management (SIPMM) on Monday shows the republic’s Purchasing Manager’s Index (PMI) came in at 44.7 for April. This comes amid lower production capacity and supply chain responsiveness as well as order book cancellations in the wake of the circuit breaker measures which kicked in at the start of the month, SPIMM explains.
