Singapore’s manufacturing PMI grows for 3rd month

According to media reports, Singapore’s manufacturing PMI increased 0.2 points in November month on month and reached 50.2. In this way, the country’s PMI beat the expectations of a reading of 50 in a Bloomberg poll and posted an increase for the third month in a row.

The data from Singapore Institute of Purchasing and Materials Management (SIPMM) showed that the growth in November was mainly driven by small increases in new orders, new exports and factory output.

Meanwhile, although electronics PMI dropped by 0.3 points in November to 50.5 on the month, the sector continued to grow for four months in a row.