Economist at UOB Group Barnabas Gan gives his opinion of the latest PMI figures in Singapore. Key Quotes “Singapore’s overall Purchasing Managers’ Index (PMI) fell 1.6 points to 48.7 in February 2020, marking the lowest level since September 2015 (at 48.6) and clocking the first time that the index fell below 50.0 after expanding in the last two months.” “The fall in PMI readings were likely led by manufacturers’ concern surrounding the spread of the COVID-19 outbreak. According to the Singapore Institute of Purchasing & Materials Management (SIPMM), “manufacturers are increasingly concerned about the extent of this (supply chain) disruption especially when the rate of infections are increasing worldwide.” “In line with global supply chain disruptions and the negative impacts to Asia’s manufacturing space, the fall in Singapore’s headline and electronic PMIs have been led by contractions in new orders, new exports, factory output, inventory and employment. China’s factories are also “expected to take longer-than-expected to return to their capacity prior to the COVID-19 outbreak”, given expectations for work resumption rate to increase towards 90% only by end-March 2020 for mid- and large- enterprises.1 All these suggest that global supply chain disruptions may have effectively capped export demand, which in turn dampened manufacturers’ confidence in February.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: Potential correction to 1.1050 on the cards – Commerzbank FX Street 3 years Economist at UOB Group Barnabas Gan gives his opinion of the latest PMI figures in Singapore. Key Quotes “Singapore’s overall Purchasing Managers’ Index (PMI) fell 1.6 points to 48.7 in February 2020, marking the lowest level since September 2015 (at 48.6) and clocking the first time that the index fell below 50.0 after expanding in the last two months.” “The fall in PMI readings were likely led by manufacturers’ concern surrounding the spread of the COVID-19 outbreak. According to the Singapore Institute of Purchasing & Materials Management (SIPMM), “manufacturers are increasingly concerned about the extent of this (supply chain) disruption… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.