SINGAPORE, Oct 2 (Reuters) - Singapore's manufacturing sector contracted for a third consecutive month in September as new orders fell further, a business survey showed, bolstering the view the trade-dependent city-state likely slipped into
recession in the third quarter.
The decline in the Purchasing Manager's index (PMI) is in line with other export-driven Asian economies facing tepid demand in Europe and the United States. A similar reading for South Korea showed a fourth straight month of contraction.
Singapore's PMI slipped deeper into negative territory last month, dropping to 48.7 points from August's 49.1....Full story
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