Singapore's PMI records first expansion in 15 months

Analysts are popping the champagne on back of new orders and exports.

After 15 consecutive months of contraction, manufacturing output has now seen an expansion as Purchasing Managers' Index (PMI) climbs to 50.1 in September.

According to Singapore Institute of Purchasing & Materials Management (SIPMM), the PMI slightly eased up 0.3 points from 49.8 in August.

"A reading of the Singapore Purchasing Managers’ Index above 50 indicates that the manufacturing economy is generally expanding," SIPMM said.

The expansion was on back of higher readings in new orders, new exports, and factory output.

Meanwhile, electronics PMI continued to expand for the second month, albeit only at 0.1 point to 50.3.

In August, electronics PMI reverted to a marginal expansion at 50.2, which came after the sector recorded contraction readings for 13 months.