Singapore: Manufacturing PMI returns to expansionary terrain
Latest reading: The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI rose to 50.0 in June from 49.7 in May. As a result, the index moved above the 50.0 no-change threshold and signaled an improvement in manufacturing-sector operating conditions compared to the previous month. This was the first expansionary reading after two consecutive months of contraction. Similarly, the electronics PMI rose to 50.1 in June (May: 49.9).
The manufacturing PMI reading reflected an expansion in the new orders index, a faster expansion rate in indexes of new exports and input purchases, and a slower contraction in the indexes of factory output and employment.
Looking at costs, the input prices index reverted to an expansion. Meanwhile, regarding business sentiment, the future business index posted a faster contraction, suggesting persistent concerns about the future economic environment among manufacturers.