September's PMI reading unchanged from August at 50.5
THE manufacturing sector is not yet on solid ground, though data released on Wednesday supports a modest recovery in factory output over the rest of the year.
The Purchasing Managers' Index (PMI) - an early gauge of manufacturing activity - came in at 50.5 in September, unchanged from August's reading and slightly below economists' expectations of 50.7.
The PMI is compiled monthly by the Singapore Institute of Purchasing and Materials Management (SIPMM) from a survey of more than 150 industrial companies. Readings above 50 indicate expansion.
The electronics sector expanded for the eight consective month, posting a PMI reading of 50.3 in September.