Wednesday, the Singapore Institute of Purchasing & Materials Management reported that the Purchasing Managers' Index for the manufacturing sector stood at 52 in November, up from 50.2 in the previous month. A reading above 50 indicates expansion, while one below 50 suggests contraction. Economists had expected the index to edge down to 50. This is the seventh straight month in which the PMI has come in above the neutral level of 50.
The index measuring activity in the electronics sector rose to 51.3 in November from 49.6 in October. At the same time, the new export orders index climbed to 53.6 from 51.3.
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