Singapore manufacturing rebounds in January

Singapore HPManufacturing activity in Singapore rebounded in January 2014, after a contraction in the previous month, boosted by a resurgence in the electronics or tech sector.

January’s Purchasing Managers’ Index (PMI) beat economists’ expectations, rising to 50.5 from 49.7 in December, according to the Singapore Institute of Purchasing and Materials Management’s (SIPMM’s) PMI, which tracks orders and production levels in the manufacturing sector.

Most economists are optimistic that the manufacturing economy will remain in expansionary mode in the months ahead. A reading of above 50 indicates that the manufacturing economy is generally expanding.

Singapore’s manufacturers may have also benefited from political unrest in Thailand. According to the SIPMM, anecdotal evidence suggests that the political turmoil facing Thailand is having a positive impact on Singapore manufacturers, as more new orders were diverted to the local manufacturers despite the higher costs.

Singapore’s manufacturing economy picked up pace in January after two consecutive months of slower growth, amid disappointing production numbers from the world’s top two economies.

Parts of the US and China were hit by extremely cold weather which disrupted travel and shipments — that proved to be a drag on purchasing activity in January and resulted in a mixed picture for global manufacturing. But in Singapore, at least, economists predict manufacturing to make a comeback in 2014 and contribute more strongly to growth than in 2013.



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Manufacturing activity in Singapore rebounded in January 2014, after a contraction in the previous month, boosted by a resurgence in the electronics or tech sector. January's Purchasing Managers' Index (PMI) beat economists' expectations, rising to 50.5 from 49.7 in December, according to the Singapore Institute of Purchasing and Materials Management's (SIPMM's) PMI, which tracks orders and production levels in the manufacturing sector. Most economists are optimistic that the manufacturing economy will remain in expansionary mode in the months ahead. A reading of above 50 indicates that the manufacturing economy is generally expanding. Singapore's manufacturers may have also benefited from political...

Singapore HPManufacturing activity in Singapore rebounded in January 2014, after a contraction in the previous month, boosted by a resurgence in the electronics or tech sector.

January’s Purchasing Managers’ Index (PMI) beat economists’ expectations, rising to 50.5 from 49.7 in December, according to the Singapore Institute of Purchasing and Materials Management’s (SIPMM’s) PMI, which tracks orders and production levels in the manufacturing sector.

Most economists are optimistic that the manufacturing economy will remain in expansionary mode in the months ahead. A reading of above 50 indicates that the manufacturing economy is generally expanding.

Singapore’s manufacturers may have also benefited from political unrest in Thailand. According to the SIPMM, anecdotal evidence suggests that the political turmoil facing Thailand is having a positive impact on Singapore manufacturers, as more new orders were diverted to the local manufacturers despite the higher costs.

Singapore’s manufacturing economy picked up pace in January after two consecutive months of slower growth, amid disappointing production numbers from the world’s top two economies.

Parts of the US and China were hit by extremely cold weather which disrupted travel and shipments — that proved to be a drag on purchasing activity in January and resulted in a mixed picture for global manufacturing. But in Singapore, at least, economists predict manufacturing to make a comeback in 2014 and contribute more strongly to growth than in 2013.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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