Singapore factory activity continues to gain momentum
Published on May 5, 2014 9:11 PM
SINGAPORE - Manufacturing activity in Singapore kept picking up pace last month, even as factories elsewhere in the region started the second quarter on a softer note.
The Singapore Purchasing Managers' Index (PMI) reached its highest level in seven months, as manufacturers reported more new domestic and export orders, as well as growth in production and inventory.
This sent the monthly gauge of manufacturing activity to 51.1 in April, up from 50.8 in March. A reading above 50 indicates growth.
The PMI has been in expansionary territory for four straight months.
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