S'pore manufacturing sector expands

S'pore manufacturing sector expands

SINGAPORE: Singapore's manufacturing sector expanded for the
fifth month running in October with the Purchasing Managers'
Index (PMI) staying above the key 50-point level, an independent
report said.

The PMI reading, compiled from a survey of purchasing managers
in more than 150 industrial companies, stood at 53.9 points in
October, up 1.9 points over the preceding month, the Singapore
Institute of Purchasing and Materials Management said late on
Monday.

A reading above 50 indicates the sector is expanding.

"The increase of the overall PMI was attributed to an increase
in new orders and export orders, imports as well as higher
production output," the institute said.

"Thus, the October PMI indicated that the Singapore
manufacturing economy posted an expansion for the fifth month
after having recorded contraction readings over three consecutive
months."

Electronics is a major contributor to manufacturing output and
forms the bulk of the island's exports to its biggest markets,
including the United States and Europe. -- AFP