Yahoo Asia News, 2 Oct 2008, Reuters
SINGAPORE, Oct 2 (Reuters) - Singapore's manufacturing industry contracted in September after three straight months of expansion as prices and orders fell, providing new evidence the credit crisis is taking a toll on global demand.
The Singapore Institute of Purchasing & Materials Management said on Thursday its purchasing managers' index -- a leading indicator for the manufacturing industry -- stood at 49.5 in September, down from 50.6 in August.
A reading below 50 points indicates that the manufacturing sector is contracting.
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