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Singapore August factory activity expands at best pace in nearly three years

Reuters Published on Mon, Sep 04, 2017 / 9:43 PM GMT+8

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SINGAPORE (Sept 4): Activity in Singapore factories expanded at its fastest pace in almost three years, buoyed by expansion in new orders, new exports and factory output, a survey showed on Monday.

In August, the Singapore Institute of Purchasing and Materials Management's Purchasing Managers' Index (PMI) climbed to 51.8 from July's 51.0, reaching the highest level since November 2014.

A reading below 50 suggests contraction, while one above that level points to expansion. The institute's index has been above 50.0 every month since November.