Singapore’s PMI back in expansion mode in September

SINGAPORE’S overall manufacturing sentiment headed back into positive territory for the first time in six months in September, suggesting that the manufacturing slump may have bottomed, and that the sector could stabilise in the coming months.

The purchasing managers’ index (PMI) edged up to 50.1 in September, a 0.2-point gain from August, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) indicated on Tuesday (Oct 3).

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