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Economy

Singapore PMI rises to 53.7 in September

TOKYO -- The Nikkei Singapore Purchasing Managers' Index rose to 53.7 in September from 53.2 in August, hitting the highest reading in just over three years.

A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

"The latest PMI survey signalled solid expansions in output and new orders. Notably, export sales increased at a record pace, lifted by increased orders to Asia and Europe," Bernard Aw, a principal economist at IHS Markit, said.

"Robust growth in business activity encouraged firms to hire more. Employment rose for the first time in four months. However, the bulk of hiring was for part-time and contract staff, suggesting that companies remained apprehensive about the growth outlook," he added.

(Nikkei)

See more information online:

http://www.markiteconomics.com/Survey/Page.mvc/PressReleases

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