Singapore's manufacturing rises for 2nd consecutive month

16:06, December 03, 2010      

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Singapore's manufacturing sector expanded for the second month in a row last month, joining the rest of Asia to record strong growth, local media reported on Friday.

The Singapore Purchasing Managers' Index (PMI), and early indicator of the factory output, rose 0.7 points to 51.4 last month, following October's rise to 50.7, local daily The Straits Times reported.

The Singapore Institute of Purchasing and Materials Management (SIPMM), which compiles the monthly PMI, attributed the gain to an expansion in overall new orders, including export orders.

A figure above 50 indicates expansion in factory output, while one below 50 indicates a contraction.

Production output, employment and output prices all expanded during the period.

Economists are taking the positive figures to mean that manufacturing is bouncing back, after the slowdown in the June to September period.

The electronics sector performed particularly well, moving up 3. 9 points to 53.2, to reverse two consecutive months of contraction.

Source: Xinhua

(Editor:李佳)

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