SINGAPORE, April 5 (Xinhua) -- Singapore Institute of Purchasing and Materials Management (SIPMM) announced on Monday that the Singapore purchasing managers' index (PMI), an early indicator of manufacturing activity, rose from 50.5 in February to 50.8 in March, the Straits Times reported.
This is the ninth month of expansion for Singapore's overall manufacturing sector. The PMI reading this March is the highest since March 2019, when the PMI reading is also 50.8.
A PMI reading above 50 indicates expansion, while a reading below 50 indicates contraction.
Meanwhile, the PMI of Singapore's electronics industry posted a dip of 0.2 points from the previous month to record a slower expansion at 50.6 in March. This is the eighth month of expansion for the electronics industry.
Sophia Poh, SIPMM vice-president of Industry Engagement and Development, was quoted by the Straits Times as saying that the outlook for PMI gains may have been clouded by the supply chain problems amid the disruptions caused by the Suez Canal blockage.
"Although the blockage has now been cleared, some manufacturers expect that the impact will last for several months," she said. Enditem
