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August sees expansion in Singapore’s manufacturing economy
Singapore

Visible evidence that Singapore's recovery is speeding up is clearly reflected from the country's manufacturing economy, which expanded for the fourth consecutive month in August.

A reading of 54.4 was posted by the Purchasing Managers' Index (PMI), a hike by 2.9 points over July's 51.5. The expansion of the economy is clearly reflected with a reading above 50.

The credit of the profits was given to further expansion in new orders, production output, stocks of finished goods, imports and employment, by the Singapore Institute of Purchasing & Materials Management.

Contraction continued in overall input prices for the 10th straight month, while inventory witnessed regular expansion and posted lower readings.

August also saw an expansion in the electronics sector, with a reading of 55.2 - up 0.2 point over the previous month.

The new orders from both the domestic and overseas markets helped August become the fifth consecutive month of growth for the electronics sector.

Regular expansion was noted in electronics production output and inventory, as well as employment.