China market recovery to boost ‘weakened’ electronics’ sector
Muted electronics sector led to a decline in the purchasing managers’ index.
Manufacturers expect that the recovery of China’s market may improve the weakened electronics sector, Singapore Institute of Purchasing and Materials Management (SIPMM) said.
“This is in spite of facing various global headwinds of high inflation and energy prices, and geopolitical uncertainties,” Sophia Poh, vice president of industry engagement and development at SIPMM, said in a statement.
This as the electronics sector performance caused growth moderation in the purchasing managers’ index (PMI) that declined 0.1 point from 50.1 in July 2022 to 50.0 in August 2022.
SIPMM said the overall manufacturing sector registered 26 consecutive months of expansion.
The Electronics Sector PMI was down 49.6, which declined 0.9 point from July 2022. The industry contracted after recording 24 months of consecutive expansion
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