The FINANCIAL — Singapore’s manufacturing activity expanded for the first time in six months in May as factories in the island nation added orders and built inventory, according to Nasdaq.
The Purchasing Managers’ Index rose to 50.2 in May, compared with 49.4 in April, the Singapore Institute of Purchasing & Materials Management said in a statement on June 2.
A PMI reading above 50 indicates expansion in manufacturing, while one below 50 denotes a contraction.
The gain in the overall PMI was attributed to an expansion in the sub-indexes for new orders, production output and inventory.
The PMI for electronics, however, remained in contraction for the second consecutive month and was at 49.8 compared with 49.1 in April, the data showed.
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