Singapore's key manufacturing index up for 8th straight month

13:49, January 05, 2010      

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Output for Singapore's factories increased for the eighth straight month in December 2009, local media reported on Tuesday.

The forward-looking Purchasing Managers' Index (PMI), jumped 1.3 points to 53.3 points last month on the back of a surge in new orders, production and inventory, local newspaper the Straits Times reported.

A reading of more than 50 indicates expansion, while one below 50 denotes a contraction.

The electronics sector registered 52.9 points, an increase of 1.6 points over November's figure. The sector had expanded for the second consecutive month as further growth seen in new orders both from local sources and overseas.

Economists expect the manufacturing sector to grow between 6 percent and 10 percent this year, following a 4.4 percent contraction last year.

Source: Xinhua
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