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Singapore: August manufacturing best since end-2014

Staff Writer |
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) rose from 51.0 in July to 51.8 in July, marking its best result since November 2014.

Therefore, the manufacturing sector recorded its twelfth consecutive month of expansion as the index moved further above the 50-point threshold that separates expansion from contraction in the manufacturing sector.

August’s result reflected expansions in new orders, new exports, factory output and inventory levels which more than offset a further contraction in employment, which was nevertheless softer than in the previous month.

Meanwhile, the electronics PMI edged up from 52.2 in July to 53.2 in August, the highest level in almost five years.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 0.8% in 2017, which is down 0.7 percentage points from last month’s forecast. For 2018, the panel sees manufacturing output expanding 1.5%.

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