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Singapore's PMI rises to 50.5 in September

Wednesday, October 1, 2014 - 21:59

Singapore's Purchasing Managers' Index (PMI) reverted to expansion mode in September, rising 0.8 points to 50.5 after slumping unexpectedly to 49.7 in August.

A reading above 50 denotes growth, while one under 50 points to a contraction in the manufacturing sector. August's under-50 reading was the first contraction since Dec 2013.

The Singapore Institute of Purchasing & Materials Management (SIPMM) said: "The increase in overall PMI was attributed to further expansion in new orders and first-time expansion in new export orders, production output and imports."

SIPMM polls more than 150 industrial companies to compile the index each month.

The electronics PMI also rose in September - it was up 1.2 points to 51.9.

The further expansion in this sector indicated growth in new orders from both domestic and overseas markets; production output and inventory recorded higher readings as well.

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