Singapore’s Feb PMI data drives ‘tentative optimism’

But just how tentative is tentative?

According to OCBC, the Feb PMI data which beat market expectations looks like it is attempting to stabilize. It possibly carves a near-term bottom and reinforces their view that Q1 2012 will likely mark the trough in the current slowdown.

Here’s more from OCBC:

With the return of the overall manufacturing PMI to expansion territory after seven straight months of contraction, accompanied by the second consecutive month of expansion readings in the electronics PMI, there is room for tentative optimism, especially since there are encouraging improvements in the new orders gauges.

Singapore’s Feb PMI data is also similar to the improvements seen in China and Taiwan’s PMI data, suggesting that the regional manufacturing chain may be turning the corner.

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