Singapore PMI up for 24th month in a row

File photo of workers at Panasonic's refrigerator compressor factory located in Bedok, on April 7, 2017.
File photo of workers at Panasonic's refrigerator compressor factory located in Bedok, on April 7, 2017. PHOTO: ST FILE

Manufacturing activity in Singapore continued to grow last month, marking the sector's expansion for the 24th month in a row. This is reflected in the Purchasing Managers' Index (PMI), which rose 0.3 point to 52.6. A reading above 50 indicates manufacturing is generally expanding.

The boost in the PMI, based on a survey of purchasing managers in more than 150 manufacturing companies, came mainly from increased new orders and new exports.

Meanwhile, the electronics sector PMI, a subset of the main index, rose 0.4 point from July to hit 52.0.

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A version of this article appeared in the print edition of The Straits Times on September 04, 2018, with the headline 'Singapore PMI up for 24th month in a row'. Print Edition | Subscribe