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Singapore's manufacturing activity expands after 14 months of contraction

Xinhua, October 3, 2016 Adjust font size:

Singapore's manufacturing activity in September recorded the first expansion after 14 months of contraction, according to data released by Singapore Institute of Purchasing and Materials Management (SIPMM) on Monday.

The reading of Purchasing Managers' Index (PMI) in September came in at 50.1, up from 49.8 reading in August, said SIPMM. A reading below 50 indicates contraction in the manufacturing economy, while a reading above 50 indicates general expansion.

Manufacturing makes up about one fifth of Singapore's economy. SIPMM said the increase is due to rise in new orders, new exports, and factory output.

PMI for the electronics sector also expanded for the second straight month and came in at 50.3 after 13 months of contractionary readings. Endit