Singapore's PMI rebounds to 50.5 in September

The purchasing managers' index of Singapore rebounded to a reading of 50.5 for September, reflecting better performance of the manufacturing economy of the republic, according to the latest index released on Wednesday.
The reading represented an increase of 0.8 from that for August.
A reading above 50 indicates that the manufacturing economy is generally expanding, while a reading below 50 indicates contraction.
The increase was attributed to a further expansion in new orders and first-time expansion in new export orders, production output and imports.
A corresponding index for the electronics sector climbed to 51. 9, a 1.2-point improvement over August. It was the 20th straight month of expansion for the electronics sector. The increase was due to growth in new orders from both domestic and overseas markets. Production output and inventory also continued to expand and recorded higher readings.
The manufacturing sector accounts for about one fifth of Singapore's gross domestic product.