Singapore's PMI finally expands with Sept reading of 50.1

SINGAPORE'S manufacturing sector expanded marginally in September, according to the Singapore Institute of Purchasing & Materials Management's (SIPMM) purchasing managers' index (PMI).

The 50.1 reading - a 0.3-point increase from the previous month - marks the first above-50 reading after 14 consecutive months of contraction.

The slight improvement was due to higher readings in new orders, new exports, and factory output.

The electronics PMI expanded for the second month at 50.3, although this was barely an increase of 0.1 point from August.

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