Singapore: Manufacturing and electronics PMIs rise in June
Both the manufacturing and electronics Purchasing Managers’ Indexes (PMIs) regained lost ground in June, as they continued to recover after falling to the lowest levels in over a decade in April due to a shock from the Covid-19 pandemic. The manufacturing PMI rose to 48.0 points from May’s 46.8 and the electronics PMI increased to 47.6 points from May’s 46.2. Despite the gains, both PMIs remained stuck below the 50-point threshold, signaling contractions in their respective sectors.
Looking at the details, June’s improvement was broad-based with upticks seen in new orders, output, employment and delivery times.