Singapore manufacturing strengthens slightly in February

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Singapore’s purchasing managers’ index (PMI) strengthened in February, as factories reported a rise in new orders and production levels.

The PMI edged up to 50.9, up from the reading of 50.5 in January and staying above the key 50-point level for a second month.

A PMI reading above 50 indicates manufacturing is expanding, while a figure below that shows activity is contracting.

The corresponding index for the electronics sector came in at 51.2 – supported by growth in new orders from domestic and overseas markets.

This is a dip of 0.8 point over January, but it is now the 13th straight month that the sector is expanding.

The readings indicated further growth in new orders from domestic and overseas markets.

The uptick in Singapore contrasts with PMI data from the region, which generally showed manufacturing weakening in economies such as China and South Korea.

Singapore’s PMI numbers are closely-watched because manufacturing accounts for more than 25 per cent of GDP.

 

 

 

Source : Channel News Asia | March 3, 2014

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About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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