S'pore industry grows slower

S'pore industry grows slower

SINGAPORE: A key manufacturing index on Friday showed Singapore's
industrial sector grew at a slower pace in October due to lower
orders.

The forward-looking Purchasing Managers' Index (PMI) fell to
51.5 points in October from 53.2 points in September, the
Singapore Institute of Purchasing and Materials Management said.

However, the index stayed above the crucial 50-point level
which indicates the industrial sector was still in expansion
mode.

Any reading below 50 points indicates the sector is declining.

"The decline of the overall PMI was attributed to lower new
orders and new export orders, as well as a lower level of
inventory and input prices," the institute said in a statement.
-- AFP