Uptick in July factory activity offers glimmer of hope for manufacturers
Published on Aug 4, 2014 9:36 PM
SINGAPORE - New data appears to offer a glimmer of hope that Singapore's flagging manufacturing sector has turned the corner.
The Singapore Purchasing Managers' Index (PMI), a monthly gauge of the sector's activity, posted a reading of 51.5 in July, an increase over June's 50.5.
A reading above 50 indicates an expansion in factory activity; below 50 points to a contraction.
July's higher reading was attributed to an increase in both domestic and export orders, as well as an uptick in production and inventory.
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