Singapore's eight-year-high Jan factory activity bodes well for employment prospects

SINGAPORE (Feb 5): Singapore's factory activity rose for the 15th consecutive month in January, accelerating from December and climbing at its fastest pace in eight years, a survey showed on Friday.

The Singapore Institute of Purchasing & Materials Management's Purchasing Managers' Index (PMI) rose to 53.1 in January after slipping to 52.8 in December. This is highest index reading since December 2009 when it hit 53.3.

"The outlook for the year ahead remains positive, boding well for employment prospects," says Bernard Aw, an economist at IHS Markit, which compiles the PMI survey for Nikkei.

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