Tuesday, Oct 21, 2014Tuesday, Oct 21, 2014
News
 

Singapore factory output up, beating the trend in Asia

Published on Jul 4, 2013 6:59 AM
 
Employees working on a refrigerator compressor production line at the Panasonic factory in Bedok South. Singapore factories kept bucking the regional trend last month as production here ticked up to a two-year high instead of falling, as it has done in most of Asia. -- ST FILE PHOTO: RAJ NADARAJAN

Singapore factories kept bucking the regional trend last month as production here ticked up to a two-year high instead of falling, as it has done in most of Asia.

Manufacturers' hiring plans also surged to a 12-year high, strengthening expectations that the past three months have seen stronger economic growth.

But the latest data also hinted at emerging spots of concern, such as lower new factory orders and rising levels of unsold stock.

The Purchasing Managers' Index (PMI), an early indicator of factory activity, rose to 51.7 in June, the highest since April 2011, data yesterday showed.

 
If you are not a subscriber, you can get instant, unlimited access here