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Singapore manufacturing PMI hit 51.8 in August, a high since November 2014

THE latest Purchasing Managers' Index (PMI) reading for Singapore's manufacturing sector hit a record high of 51.8 since November 2014 and recorded its 12th month of consecutive expansion.

The August 2017 print is an increase of 0.8 point from the previous month, based on the latest data released by the Singapore Institute of Purchasing and Materials Management (SIPMM) on Monday.

Almost all indicators, except supplier deliveries, showed improvements. New orders, new exports, factory output, inventory level, stocks of finished goods, imports and order backlog recorded a faster rate of expansion.

Employment contraction was slower, while input prices reverted to an expansion reading. Supplier deliveries, however, fell into the contraction territory.

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The electronics sector's PMI rose one point from the previous month to post a higher expansion reading at 53.2 - a record high since November 2010. It is also the 13th month of consecutive expansion.

All indicators in the electronics sector recorded faster rate of expansion, except for supplier deliveries which recorded a slower rate of expansion.

"Anecdotal evidences of the survey suggest that the electronics manufacturers are more upbeat about the sector, going forward," said SIPMM.

A PMI reading above 50 indicates that the manufacturing economy is generally expanding and a reading below 50 indicates that the economy is generally declining.