Singapore PMI edged up to 51.2 in October

Find out what caused the jump.

According to CIMB, manufacturing got off to a decent start in 4Q13 with the overall and tech PMIs gaining 0.7 pt in Oct, to 51.2 and 51.0 respectively. 

Their lifts came from new and backlog orders, employment and output to orders/inventories. The uptick in Singapore’s PMI is consistent with regional readings, which all paint a picture of cautious spending by consumers and businesses.

Here's more from CIMB:

Factory output, as measured by the monthly PMI from the Singapore Institute of Purchasing and Material Management, gained 0.7 pt last month to 51.2 (unchanged at 50.5 in Aug/Sep 13). 

This reading fell in-between consensus and our estimates of 51.0 and 51.5 respectively, and represented the eighth
consecutive month of modest expansion.