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Singapore's April PMI up at 51.1, highest since Oct

Electronics index registers a decline, but sector still in expansionary mode

Published Mon, May 5, 2014 · 10:00 PM
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[SINGAPORE] Singapore's factories were the busiest they've been in six months, with the latest purchasing managers' index (PMI) rising to 51.1 in April - a level not seen since October last year. And while the electronics PMI declined 1.2 points to 50.4 last month, economists say they aren't too concerned.

Even though the electronics sector's performance fell short of expectations - private-sector economists polled by Bloomberg had earlier forecast a reading of 51.8 - analysts emphasised that 50.4 still points to expansion.

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

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