SG manufacturing expands

MANUFACTURING    EXPANSION

Singapore - The latest reading of the Singapore Purchasing Managers' Index (PMI) indicates further expansion in manufacturing, due to increasing domestic and export orders, as well as high production output.

The February PMI stood at 51.9, an increase of 0.5 point from January's reading, said the Singapore Institute of Purchasing and Materials Management.

A reading above 50 on the index indicates general expansion, while a reading below 50 shows general contraction.

This ascent last month marks the tenth straight month of expansion for Singapore's manufacturing sector, which endured eight consecutive months of decline in late 2008.

New domestic orders were up 1.1 points to 52.8, and new export orders gained 0.6 point to 51.9.

Electronics production output, inventory, stockholdings of finished goods as well as imports also noted continuous expansion.

According to media sources, companies and local manufacturers are now in the stage of consolidating their new order demand after fulfilling the orders for the festive season.

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