Manufacturing PMI expands in June after two months of extraction

This marks the first expansion following two consecutive months of contraction.

Singapore's manufacturing Purchasing Managers’ Index (PMI) returned to expansion territory in June, edging up 0.3 point to 50.0, according to the Singapore Institute of Purchasing and Materials Management (SIPMM).

This marked the first expansion reading for the overall manufacturing sector after recording two months of contraction.

According to SIPMM, the expansion can be attributed to an expansion in the new orders index, a faster expansion rate in the new exports and purchase input index, and a slower contraction rate in the factory output and employment index.