Singapore: Manufacturing PMI inches down in May
June 3, 2014
In May, the manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched down from the 51.1 points recorded in April to 50.8 points. The figure slightly undershot market expectations of the index inching up to 51.3 points. The index is still just above the 50-point threshold that indicates expansion in the manufacturing sector. All of the sub-indexes that comprise the PMI index decelerated compared to the previous month.
The electronics PMI recorded 50.4 points in May, which matched April’s result. The figure slightly undershot market expectations that the index would improve and reach 50.8 points.
Author: Dirina Mançellari, Senior Economist