SINGAPORE, Feb. 3 (Xinhua) -- Singapore's Purchasing Managers' Index (PMI), a key early indicator of manufacturing activity, edged down 0.2 points from December to 50.9 in January, marking the 17th consecutive month of expansion, the Singapore Institute of Purchasing and Materials Management said on Monday night.
A PMI reading above 50 indicates expansion in the manufacturing sector, while a reading below 50 signals contraction.
The electronics sector PMI slipped 0.3 points to 51.1.
OCBC Bank chief economist Selena Ling said the "modest pullback was not terribly surprising," as the Chinese New Year falling in January likely led to some front-loading of production and exports at the end of last year, ahead of widely anticipated U.S. tariffs under President Donald Trump, local newspaper The Business Times reported.
DBS economist Chua Han Teng noted similar PMI moderations in February 2021, 2022, and 2024, years when Chinese New Year also fell during that period. ■
