S'pore manufacturing hits 7-month high
MANUFACTURING in Singapore picked up pace last month, even as factories elsewhere in the region started the second quarter slower.
The closely watched Singapore Purchasing Managers' Index (PMI) reached its highest level in seven months, as manufacturers reported more new domestic and export orders, as well as growth in production and inventory.
This sent the PMI to 51.1 last month, up from 50.8 in March. A reading above 50 indicates growth. The PMI has been expanding for four straight months.
The PMI is compiled by the Singapore Institute of Purchasing and Materials Management from a survey of more than 150 industrial firms.