Singapore's PMI rises to 50.5 in September
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
G7 pledges swift aid for Ukraine, seeks to calm Middle East
H5N1 strain of bird flu found in milk: WHO
China moves to boost foreign investment in domestic tech companies
Xi orders China’s biggest military reorganisation since 2015
Warner Bros CEO earned US$49.7 million in strike-impacted year
Teheran signals no retaliation against Israel after drones attack Iran