Singapore manufacturing PMI posts slower expansion in May

Manufacturing activity in Singapore picked up at a slower pace in May, although it continued its expansion trend for the ninth straight month.

MANUFACTURING activity in Singapore picked up at a slower pace in May, although it continued its expansion trend for the ninth straight month, based on the latest data released by the Singapore Institute of Purchasing and Materials Management (SIPMM) on Friday.

The purchasing managers’ index (PMI) reading in May was 50.8, a tad slower from April by 0.3 of a point.

The employment indicator showed contraction, while factory output, new orders, new exports, inventory level and input prices recorded slower growth rates. Stocks of finished goods, imports, supplier deliveries and order backlog registered faster pace of expansion.

Electronics sector PMI rose 0.8 point from April to post a faster rate of expansion at 52.4 – a record high since October 2014. Most indicators recorded faster growth rates, except for stocks of finished goods and input prices.

A PMI reading above 50 indicates that the manufacturing economy is generally expanding and a reading below 50 suggests decline.

Source: The Business Times

0 responses on "Singapore manufacturing PMI posts slower expansion in May"

Leave a Message

SIPMM - Singapore Institute of Purchasing and Materials Management

The Singapore Institute of Purchasing and Materials Management is the nation’s professional body for the LPS sector – the sector which includes professionals in Logistics, Procurement and Supply Chain. Since its founding in 1972, SIPMM has trained over 100,000 LPS professionals through its comprehensive suite of Specialised Qualifications, Executive Development Programmes as well as Specialised In-House Workshops across the region – which includes Multinational Firms, ICT Conglomerates, Governments, and the Armed Forces.

Join Us

Certificate of Competency

 

For Qualifications Certificate Validation, please click HERE.

top
© 2020 SIPMM. All Rights Reserved. Terms of Use