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Singapore: Manufacturing PMI ticks up in August

Staff Writer | September 13, 2018
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) rose from 52.3 in July to 52.6 in August, putting a stop to four consecutive monthly declines.
Singapore street
Asia   The index moved further above the crucial 50-point mark
The index moved further above the crucial 50-point mark that separates expansion from contraction in Singapore’s manufacturing sector and logged a 24th consecutive month of expansion. August’s result reflected faster growth in new orders, new exports, employment and factory output.

The electronics PMI also improved, from 51.6 in July to 52.0 in August. The increase was driven by faster growth in new orders, new exports, employment and factory output.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 6.8% in 2018 and 3.4% in 2019.


 

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