SINGAPORE (Reuters) - Activity at Singapore’s factories in November expanded marginally in November, helped by new orders and exports, a private survey showed on Friday.
The Singapore Institute of Purchasing & Materials Management’s Purchasing Managers’ Index (PMI) rose to 50.2 from October’s 50.0. A reading below 50 suggests contraction, while one above that level points to expansion.
While barely in positive territory, it was the highest reading since June 2015, when the PMI was at 50.4.
“The latest PMI expansion was attributed to slight improvements in new orders, new exports, and factory output,” the institute said in a statement.
“The latest set of PMI readings indicate weakness in the nascent recovery of the overall manufacturing sector, amidst increased uncertainties in the major economies,” it added.
The PMI for the electronics sector fell to 50.5 in November from 50.8 in October, the institute said.
Factory surveys in other parts of Asia produced stronger PMI numbers in China, Taiwan and Vietnam in November. Activity in Japan’s factories still grew, although at a slower pace than in October.
Reporting by Masayuki Kitano; Editing by Kim Coghill