SEE: Singapore ruling party suffers drop in credibility rating in July election
Agreeing, Selena Ling – who heads the treasury research and strategy division of OCBC Bank notes that some moderation in manufacturing momentum has been expected in 1Q2021. “This seems to be materialising globally and regionally, including for Singapore’s electronic PMI,” adds Ling. Electronics PMI edged down by 0.2 points to 51.0 points, making this the metric’s fifth consecutive month of expansion. This follows a slower expansion in new orders, new exports, factory output and inventory, SIPMM notes.