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Singapore PMI June 2022

Singapore: Manufacturing PMI decreases while electronics PMI increases in June

The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for the manufacturing sector dipped in June, while the electronics PMI rose in the same month. However, both remained within expansionary terrain.

The manufacturing PMI clocked in at 50.3 in June, slightly down from the 50.4 reading in May but remaining above the 50-point threshold that separates expansion from contraction in the sector. The reading marked the 24th consecutive month of expansion in the manufacturing sector.

Meanwhile, the electronics PMI rose to 50.8 in June from 50.5 in May, logging the 23rd consecutive month of expansion for the sector.

Commenting on the readings, Sophia Poh, vice president at SIPMM, noted:

“The overall manufacturing sector has recorded continued expansion throughout the first half of the year, with the latest PMI reading indicating strong performance for the electronics industry. This positive outlook is indeed heartening, considering several headwinds facing the Singapore economy, and primarily due to the continuing Russia-Ukraine conflict.”

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