S'pore manufacture at 37-month high<\/p>\n
SINGAPORE : Singapore's vital manufacturing sector is expected
\nto expand this year after a key index monitoring factory orders
\nsurged to a 37-month high, the Singapore Institute of Purchasing
\nand Materials Management (SIPMM) reported on Tuesday.<\/p>\n
The purchasing managers index (PMI) soared to 54.5 points in
\nDecember, up 1.3 points from the previous month.<\/p>\n
The electronics PMI also rose by 1.6 points to 55.9, staying
\nabove the 50-point threshold indicating expansion for the entire
\nsecond half of 2003.<\/p>\n
The PMI is compiled monthly by SIPMM, which surveys more than
\n200 companies.<\/p>\n
The manufacturing PMI's seventh straight month of expansion
\n"may signal better times ahead this year for our manufacturing
\nsector", said institute chairman Alick Chia.<\/p>\n
Driven by improved global demand and U.S. business confidence,
\nthe manufacturing recovery here is "well underway", he added.<\/p>\n
New export orders also picked up with the sub-index gaining
\n2.4 points to 56.2.<\/p>\n
It may not be long before a new wave of hiring begins, Chia
\nadded. --DPA<\/p>",
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