Manufacturing expands for 20th straight month

An overview of Dyson’s Singapore advanced motor manufacturing facility on April 18, 2018.
An overview of Dyson’s Singapore advanced motor manufacturing facility on April 18, 2018. ST PHOTO: KEVIN LIM

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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A version of this article appeared in the print edition of The Straits Times on May 03, 2018, with the headline 'Manufacturing expands for 20th straight month'. Print Edition | Subscribe