S’pore factory activity expands for seventh straight month

Singapore’s manufacturing activity saw a seventh straight month of expansion in February, but companies will have to brace themselves for more downside risks due to the widening military conflict in the Middle East.

- Rosalind Ang

The electronics sector, which accounts for 40 per cent of manufacturing output, marked its ninth consecutive month of growth.

(LIANHE ZAOBAO)

The purchasing managers’ index (PMI) - a barometer of the manufacturing industry’s health - edged up 01 point from the previous month to 50.6, on stronger expansions in new orders, new exports and employment.

A reading above 50 indicates growth, while one below 50 indicates contraction.

The electronics sector, which accounts for 40 per cent of manufacturing output, recorded a PMI of 51.3 points, marking its ninth consecutive month of growth, according to data from the Singapore Institute of Purchasing and Materials Management (SIPMM) on March 2.

“The latest PMI readings indicate a resilient outlook for the manufacturing sector, supported by sustained demand from the electronics and semiconductor cluster,’ said Mr Stephen Poh, executive director at SIPMM.