Economy

Singapore factory activity expands in April at fastest pace since December 2018

SINGAPORE – Singapore saw its overall manufacturing activity expanding in April at the fastest pace in more than two years, aided mainly by gains in new orders, new exports, and employment. However, analysts said uncertainty about the new variants of Covid-19 poses downside risks to the outlook. The Singapore Purchasing Managers’ Index (PMI) rose for […]

Economy

Suez Canal jam may further strain Singapore manufacturers amid shipping container shortage

SINGAPORE – The shortage of shipping containers, which has hit Singapore manufacturers in recent months, may be exacerbated by the jam at the Suez Canal. Shipping container costs have already jumped from anywhere between 20 to 200 per cent amid disruptions stemming from the Covid-19 pandemic, industry players told The Straits Times. Please subscribe or […]

Economy

Singapore factory activity expands for 8th straight month in February but at slower pace

SINGAPORE – Singapore’s manufacturing sector continued growing as factory activity recorded an eighth straight month of expansion in February, though at a slightly slower rate. The Singapore Purchasing Managers’ Index (PMI) – a key measure of factory activity – inched down to 50.5 from 50.7 on January, according to data released on Tuesday (March 2). A […]

Economy

China factory activity expands at slower pace in December

BEIJING (REUTERS) – China’s factory activity expanded in December but at a slower pace, as the country leads a pack of major economies emerging from the coronavirus slump. The official manufacturing Purchasing Manager’s Index (PMI) fell to 51.9 in December from 52.1 in November, data from the National Bureau of Statistics (NBS) showed on Thursday […]

Economy

China industrial output steps up in November as recovery gathers pace

BEIJING (REUTERS) – China’s industrial output grew in line with expectations in November, expanding for the eighth straight month as the economic recovery gathered pace and global demand picked up. Industrial output growth quickened to 7 per cent in November from a year earlier, data from the National Statistics Bureau showed on Tuesday (Dec 15). […]

Economy

More manufacturers adopting digital solutions amid pandemic

Workers had to fillet fish by hand at food manufacturer Hai Sia Seafood, but this laborious job has been vastly improved as the company transforms digitally. A new fish filleting machine has increased capacity fivefold after staff moved from manual labour to learning to operate the equipment. Hai Sia is just one of many manufacturers […]

Economy

China industrial output accelerates more than expected in August, retail sales turn up

BEIJING (REUTERS) – China’s industrial output rose 5.6 per cent in August from a year ago, data showed on Tuesday (Sept 15), expanding for the fifth straight month in a boost to an economy trying to regain its footing from the shock of the coronavirus outbreak earlier in the year. Analysts polled by Reuters had […]

Business

U.S. manufacturing activity hits 14-month high

WASHINGTON (Reuters) – U.S. manufacturing activity rebounded in June, hitting its highest level in more than a year as the broader economy reopened, but rising COVID-19 infections threaten the recovery. The Institute for Supply Management (ISM) said on Wednesday its index of national factory activity jumped to a reading of 52.6 last month from 43.1 […]

Business

U.S. manufacturing activity off 11-year low; construction spending falls

WASHINGTON (Reuters) – U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from the COVID-19 crisis could take years because of high unemployment. The Institute for Supply Management (ISM) said on Monday its index of […]

Business

Car manufacturing at lowest point since Second World War

The number of cars made in Britain fell to its lowest point since the Second World War during April, down 99.7% compared to the same month last year. Just 152 cars were built for export and 45 for customers in the UK during the month, according to figures from the Society of Motor Manufacturers and […]