Singapore’s PMI improves in August to post highest reading in three years

SINGAPORE’S overall factory activity improved in August to post its highest reading in three years, according to data from the Singapore Institute of Purchasing and Materials Management (SIPMM) on Monday (Sep 2).

The purchasing managers’ index (PMI) gained 0.2 point to 50.9, marking the 12th straight month that it remained in expansionary territory, and its highest reading since August 2021.

A reading above 50 on the index indicates growth from the previous month, while one below 50 points to a contraction.