Singapore's February manufacturing PMI is the strongest in 6 months

Some good news with the 49.4 reading.

According to CIMB, joining their Chinese counterparts in Taiwan and China, Singapore’s factory bosses were also less busy in February as many manufacturers took time off to enjoy the Lunar New Year festivities.

Factory output, as measured by the monthly PMI, dipped 0.8 pt to 49.4 after recovering 1.6 pts in Jan 13 to 50.2, its strongest monthly gain since Feb 12 (+1.7 pts, after CNY month).

"Although the Feb reading came in below expectations (consensus: 50.3, CIMB: 48.9), it is more important to look at the underlying trend. On a 3MMA basis, overall PMI averaged 49.4 in Feb 13, the strongest in six months," CIMB said.

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