Singapore: The nation’s purchasing managers’ index (PMI) in October 2017 recorded a rise of 0.6 point from September to reach an expansion at 52.6 points, a record high since December 2009.
The manufacturing sector saw its 14th month of consecutive expansion, with the latest PMI reading boosted by the non-electronics manufacturing sector. A PMI reading is an indicator of the economic health of the manufacturing sector—a reading of above 50 indicates that the manufacturing economy is generally expanding and that the economy is generally declining when the reading falls below 50.
The electronics sector’s PMI reading of 53.3 points in October achieved its 15th month of consecutive expansion.
The manufacturing expansion was ranged over most sectors, indicating Singapore’s manufacturing industry’s economic resilience and sustained growth since August 2016. Employment in the manufacturing industry also saw an increase for the second consecutive month.
APMEN News, Nov 2017