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SINGAPORE: Singapore's manufacturing economy expanded for the second time in June after having contracted over eight consecutive months.
The Purchasing Managers' Index (PMI) showed a reading of 51.1 in June, a slight dip of 0.1 point over the month of May. A reading above 50 indicates the manufacturing economy is expanding.
The marginal dip in the overall PMI was due to first-time contraction in the overall stocks of finished goods and imports. Overall input prices and employment also continued to contract.
On the other hand, overall new orders, new export orders and production output continued to expand and post higher readings.
The electronics index saw a further expansion at 55 – an increase of 2.1 points over the previous month. The readings indicated higher levels in new orders from the domestic and overseas markets.
- CNA/so
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