SINGAPORE, Aug 3 (NNN-CNA) – The Singapore purchasing managers’ index (PMI), an early indicator of manufacturing activity, edged down 0.2 points from the previous month, to post a slower rate of expansion at 50.1 this July, the Straits Times reported yesterday.
The overall manufacturing sector has now recorded 25 months of consecutive expansion, said the Singapore Institute of Purchasing and Materials Management (SIPMM), which publishes the Singapore Purchasing Managers’ Index on a monthly basis.
Singapore’s electronics sector PMI posted a decrease of 0.3 points from June, to record a slower rate of expansion at 50.5 in July. This is the 24th month of expansion for the electronics sector.
A PMI reading above 50 indicates expansion, while a reading below 50 indicates contraction.– NNN-CNA
