Singapore's October manufacturing PMI falls for second straight month to 49.7

Singapore's manufacturing activity has fallen for the second month in a row. Increasing cost pressures and global economic headwinds weighed down demand in October, despite the year-end festive season. Industry watchers said local firms have also been cutting back on their investment plans. The Purchasing Managers' Index, which measures factory output, dropped 0.2 points to 49.7. The electronics sector contracted further to 49.1, down 0.3 points.