Singapore's purchasing managers' index (PMI) came in weaker than expected in August at 49.4, vs. 52.2 in July, signaling contraction in the city-state's manufacturing sector. This will feed into worries that global growth is still slowing, even though the macroeconomic outlook for Asia remains the strongest among the emerging-market regions.The headline PMI fell below the 50 boom/bust line for the first time since April 2009. Looking at the PMI components, new orders fell to 48.8 from 52.0, new export orders fell to 49.3 from 51.8, and production fell to 48.1 from 53.8. Full story
