August manufacturing PMI down to 49.4
The manufacturing PMI contracted for the first time since April 2009 due to declining new orders, new export orders, output and employment.
According to OCBC, the August manufacturing PMI was down 2.8 points from 52.2 in July. The electronics PMI also dropped from 55.7 in July to 50.6.
“Manufacturing momentum may continue to ease in the coming months,” said OCBC.