Singapore manufacturing rebounds in January
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 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.
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...
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 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.
