SIPMM attributed this improvement to higher expansion readings recorded in the key indicators of new orders, new exports, factory output, inventory, and employment.
"In view of the accelerated outbreaks at month-end, I expect that the overall manufacturing sector will be impacted in the next PMI survey," she said. However, he believes things could return to normal after a marginal decline in the next one to two months, given China's push for firms to resume production after the Chinese New Year break. This is based on what happened during the severe acute respiratory syndrome outbreak in 2003, he said, noting that the manufacturing sector saw full-year growth of 3.2 per cent despite shrinking 7.2 per cent in the second quarter.
United Overseas Bank economist Barnabas Gan noted that Singapore's PMI reading fell to 49.4 in May 2003 after seeing its first Sars case in February then, marking the lowest PMI reading in 16 months.
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