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Singapore's manufacturing PMI expands to 50.2 in November

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SINGAPORE'S manufacturing sector recorded its third month of expansion in November, turning in a slightly better reading than expected.

SINGAPORE'S manufacturing sector recorded its third month of expansion in November, turning in a slightly better reading than expected.

The manufacturing PMI (Purchasing Managers' Index) stood at 50.2 last month - a marginal increase of 0.2 point from October's showing.

November's expansion was due to small improvements in new orders, new exports, and factory output, said the Singapore Institute of Purchasing & Materials Management on Friday.

However, it added that manufacturing employment "remained in the doldrums", with the index recording 24 months of contraction readings.

Meanwhile, the electronics PMI recorded a dip of 0.3 point in November; although at 50.5, this was still an expansion for the fourth month.

A PMI reading above 50 denotes growth, while one under 50 reflects a contraction in the manufacturing sector.

sentifi.com

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