Singapore factory activity growth at 3 1/2-year high

Reuters    Translate This Article
4 November 2014

SINGAPORE (Reuters) - Singapore's manufacturing activity expanded at the fastest pace in 3 1/2 years in October on a rise in new orders and new export orders, a survey showed on Tuesday.

The Singapore Institute of Purchasing & Materials Management's Purchasing Managers' index (PMI) rose to 51.9 in October, the highest since April 2011. That compared with 50.5 in September.

A reading above 50 indicates that activity is generally expanding, while one below that points to a contraction.

'The increase in the overall PMI was attributed to further expansion in new orders and new export orders, production output and stockholdings of finished goods,' the institute said in a statement.

The PMI for the electronics sector rose to 52.5 in October from 51.9 in September.

That indicated growth in new orders from both domestic and overseas markets, the institute said.

The growth in factory activity came as U.S. manufacturing expanded far more briskly than estimated last month.

Still, manufacturing sectors in other Asian countries expanded slowly, with activity in China at a five-month low.

Factory activity in South Korea and Indonesia contracted.

(Reporting by Jongwoo Cheon; Editing by Simon Cameron-Moore)

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