Singapore PMI expands for 15th straight month

Workers at Panasonic's refrigerator compressor factory located in Bedok.
Workers at Panasonic's refrigerator compressor factory located in Bedok. PHOTO: ST FILE

The manufacturing sector logged another strong showing in the latest Purchasing Managers' Index (PMI) - an early indicator of factory activity - which came in at 52.9 last month.

This marked its 15th straight month of expansion and was also the highest reading since December 2009. A reading of 50 and above indicates expansion.

Economists said the data points to continued strong growth in manufacturing - which makes up a fifth of the economy and has been its brightest spot this year.

SEE TOP OF THE NEWS: Manufacturing shows strong signs of broad-based growth

A version of this article appeared in the print edition of The Straits Times on December 05, 2017, with the headline 'S'pore PMI expands for 15th straight month'. Print Edition | Subscribe