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PMI growth in August signals steady manufacturing recovery
It rose to 50.9.
August marked a faster expansion of the Purchasing Managers' Index (PMI), increasing by 0.2 point to 50.9 from July.
The Singapore Institute of Purchasing and Materials Management (SIPMM) attributed the improvement to faster expansion in key indexes of new orders, new exports, factory output, and input purchases.
Additionally, the employment index reverted to an expansion.
Indexes of finished goods, imports, input prices, order backlog, and future business also recorded faster expansion rates, whilst the supplier deliveries index reverted to an expansion.
Stephen Poh, executive director of SIPMM, said the August PMI points to a "steady manufacturing recovery."
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