Helped by increased orders for electronics, manufacturing activity in Singapore rose in January after contracting for six consecutive months, according to an industry survey that showed the city state joining in a recovery in manufacturing globally.
The positive Singapore reading followed surveys published over the weekend that showed U.S. manufacturing growth quickened in January, while Chinese factories extended a modest rebound.
Singapore's Purchasing Managers' index (PMI) rose to 50.2 points last month from 48.6 points in December, crossing the key 50-point level that separates expansion from contraction on a month-to-month basis, the Singapore Institute of Purchasing Materials Management (SIPMM) said on Monday. Full story
