SINGAPORE, Jun 3 (NNN-CNA) – Singapore Institute of Purchasing and Materials Management (SIPMM), announced yesterday that, the Singapore purchasing managers’ index (PMI), an early indicator of manufacturing activity, declined from 50.9 in Apr to 50.7 in May.
This is the 11th month of expansion for Singapore’s overall manufacturing sector, but the expansion is slower than that in the previous month.
A PMI reading above 50 indicates expansion, while a reading below 50 indicates contraction.
Meanwhile, the PMI of Singapore’s electronics industry posted a decrease of 0.3 points from the previous month, to record a slower expansion at 50.4 in May. This is the 10th month of expansion for the electronics industry.– NNN-CNA
