Singapore PMI Slipped Further Into Contraction in December

SINGAPORE--Singapore's manufacturing activity slipped further into contractionary territory in December, mainly owing to faster contraction in new orders, new exports, factory output and inventory. The city-state's purchasing managers index fell to 49.7 in December from 49.8 in November, the Singapore Institute of Purchasing and Materials Management said Tuesday. The December reading marked the fourth straight month of contraction. A PMI reading below 50 indicates a contraction. "The latest PMI readings do not bode well for the manufacturing sector," said Sophia Poh, vice president of industry engagement and development at SIPMM....