Singapore's tech PMI finally edges up to 52.1

But this could be a one-off.

According to CIMB, while others were taking a breather, tech manufacturers were kept surprisingly busier on the back of firmer orders and production.

After four consecutive months of contraction, tech PMI posted growth to 52.1, matching its previous highest reading in Oct 11.

Here's more from CIMB:

New orders jumped another 3.5 pts to 53.2 (Jan 13: +6.2 pts), the strongest reading in almost a year. Supported by the firmer orders, output rose 3.2 pts (Jan 13: +4.9 pts) to 52.4, the first expansion in five consecutive months.

While the stronger order flows in 2M13 are encouraging, this latest rebound could be temporary because manufacturers reported stronger inventory (+2.4 pts to a 6-month high of 52) while stocks of finished goods dipped 0.4 pt to 49.6, backlogs eased 0.9 pt to 51.2 and suppliers were told to slow down their deliveries (-2.1 pts to 50.8).

On the positive side, the orders-to-inventory ratio of 1.10x is the highest in almost a year, supportive of further output growth. Fingers crossed.

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