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PMI contraction will reside longer in 2023

Workforce Reporter



The index edged up 0.1 in January.

The production sector’s buying managers’ index in January relatively progressed however remained underneath contraction to 49.8 from 49.7 in December.

UOB sees that such numbers will stay underneath contraction for the primary 3 months or even longer since maximum sub-indices within the surveys proceed to shrink. 

Some key metrics within the electronics phase posted slower contraction together with electronics new orders, exports, output, stock, completed items, and backlog orders index. 

The electronics employment index, on the other hand, progressed relatively. 

The electronics deliveries index slipped decrease to 50.8. The electronics enter worth index eased additional to 50.5, indicating additional easing of provide chain disruptions and weaker call for.

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