Singapore’s factory activity expands for 14th month in August but at slower pace

imageSingapore’s factory activity in August expanded for the 14th consecutive month, although at a slower rate than the previous month.

The Purchasing Managers’ Index (PMI) in August dipped to 50.9 from 51.0, according to data released by the Singapore Institute of Purchasing and Materials Management (SIPMM) on Thursday (Sep 2).

A PMI reading above 50 indicates that the manufacturing economy is generally expanding, while a figure below that threshold points to contraction.

“The latest PMI reading was attributed to slower expansion rates in the key indexes of new orders, new exports, factory output and inventory,” said the institute.

After contracting for four straight months, the finished goods index returned to an expansion, while the input prices index, which has now grown for 13 continuous months, expanded at a faster rate.

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