SPIMM attributes this to an increase in new orders, export orders and factory output. This is “unsurprising since this is the lead-up to the busiest period ahead of the Christmas orders season,” says Selena Ling, who heads OCBC Bank’s treasury research and strategy.
October marks the fourth straight month of expansion in Singapore’s manufacturing activity.
Data released by the Singapore Institute of Purchasing and Materials Management (SPIMM) on Nov 3 shows that the republic’s Purchasing Manager’s Index (PMI) edged up 0.2 points to hit 50.5 points.
