Singapore's manufacturing sector recorded its 20th straight month of expansion last month, although the pace of growth has steadied over the past six months, according to figures out yesterday.

The expansion was supported by higher inventory and employment levels.

Last month's Purchasing Managers' Index (PMI) - a leading indicator of economic activity - came in at 52.9, marginally down from 53.0 in March. A reading of 50 and above indicates expansion.

Ms Selena Ling, OCBC's head of treasury research and strategy, said this partly reflects "a small degree of caution that may have crept in recently", despite the momentum.

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