Singapore Manufacturing Activity Expanded for Sixth Month in December

By Ronnie Harui

SINGAPORE--Singapore's manufacturing activity expanded for a sixth straight month in December, thanks to marginally faster growth in new orders, factory output and inventory and slower contraction in employment.

The city-state's purchasing managers index rose to 50.5 in December from 50.4 in November, according to the Singapore Institute of Purchasing and Materials Management. A PMI reading above 50 indicates an expansion in manufacturing.

"The December PMI indicates that the overall manufacturing sector has ended the eventful year with a positive reading," said Sophia Poh, SIPMM vice president of industry engagement and development. "It is heartening to note that the sector is looking ahead to a brighter outlook for the new year even though it will take some time before wide-scale vaccination programmes can be implemented globally."

The PMI for electronics, which accounts for about one-third of Singapore's manufacturing, rose to 51.2 in December from 51.1 in November, the institute said.

The employment subindex was at 49.3 in December versus 49.1 in November, the institute said.

Write to Ronnie Harui at [e-mail]

(END) Dow Jones Newswires

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