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Singapore's manufacturing activity expands for 4th straight month in December

Xinhua, January 3, 2017 Adjust font size:

Singapore's manufacturing activity expanded for a fourth straight month in December 2016, according to the data released by Singapore Institute of Purchasing and Materials Management (SIPMM) on Tuesday.

The reading of Purchasing Managers' Index (PMI) in December came in at 50.6, increasing 0.4 points from the reading of November, 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 a faster rate of expansion in factory output, inventory holding, as well as new orders and new exports contribute to the expansion in December.

PMI for the electronics sector also expanded in December with the reading standing at 51.2, an increase of 0.7 points compared with that in the previous month. Enditem