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Singapore's manufacturing economy grows in July

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Singapore's manufacturers continued to steam ahead, as the Purchasing Managers' Index (PMI) hit 52.2 points in July, local media reported on Wednesday.

The July figure was 0.9 point ahead of June's figure and an overall expansion for a 15th straight month, local newspaper The Straits Times reported.

An index of above 50 is taken to indicate expansion, while a figure below 50 denotes contraction.

Overall, the manufacturing economy's expansion last month was driven by continued increases in output and inventory.

The electronics sector led the expansion with its index rising a solid 5.2 points month-on-month to 55.7.

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