Singapore: Manufacturing PMI drops slightly in June
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) decreased marginally from 52.7 points in May to 52.5 in June, marking the third consecutive monthly deceleration. However, the index remained above the crucial 50-point mark that separates expansion from contraction in Singapore’s manufacturing sector and logged a 22th consecutive month of expansion. June’s result reflected slightly slower growth in new orders, new exports and factory output.
The electronics PMI edged down slightly from 52.3 in May to 51.9 in June, and has now tracked below the manufacturing PMI for six consecutive months. The decrease was driven by slower growth in factory output, new orders, new exports and employment.