SINGAPORE, Nov. 4 (Xinhua) -- Singapore's overall Purchasing Managers' Index (PMI) for Singapore slipped 0.4 percent to 50.2 in October, local media reported on Wednesday.
The PMI reading is a closely watched barometer of manufacturing and is based on a survey of purchasing managers of more than 150 industrial companies. A reading of above 50 indicates that manufacturing is expanding, while one below 50 signals a contraction, local newspaper Straits Times reported.
This easing of manufacturing momentum was attributed to lower new orders and lower levels in production. The new orders index slid 0.3 percent to 50.3 percent, while the production index fell by a point, barely expanding at 50.2.
The PMI reading was also weighed down by the inventory index, which dipped 2.5 points to 50.9.
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