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Manufacturing and electronics sector in Singapore are expected to have stayed in the expansion zone during the month of October, with the Purchasing Managers’ Index (PMI) holding above the 50-point threshold mark that separates expansion from contraction in the sector.
While this can be seen as a continuation of the positive blip in the previous month, the seasonally adjusted series will show that the sector is already in expansion mode for a couple of months.
If the indices can sustain the current upward trend for some 1-2 months, then it will be safe to assume that the worst for the manufacturing sector may be behind. But much will depend on the global outlook, which is still dotted with pockets of risks.
"Time will tell but the point to note is that the manufacturing sector is probably near the end of its current down-cycle," DBS commented in its recent research report.
