(Repeats from Tuesday with no changes to the text)
SINGAPORE, July 3 (Reuters) – Manufacturing activity in
Singapore expanded for a second consecutive month in June as
orders and production increased but employment in the sector
fell for the 12th straight month, the latest Purchasing
Manager’s Index (PMI) showed.
The PMI stood at 50.4 points in June, unchanged from May and
stayed above the 50-point threshold that signals manufacturing
is growing rather than contracting, the Singapore Institute of
Purchasing Materials Management (SIPMM) said on Tuesday.
The sub-index for employment, however, slipped to 49.5 from
May’s reading of 49.8.
A separate PMI for the city-state’s important electronics
sector stayed in positive territory for the sixth straight month
with a June figure of 50.4, down slightly from May’s 50.8, SIPMM
said.
Singapore’s positive manufacturing activity contrasts with
other recent factory surveys, from the United States to China
and Japan, suggesting a global slowdown was under way and
manufacturers across the globe were already hit by weak demand.
Data this week showed the U.S. factory sector was dragged
down in June by a plunge in new orders and drop in exports.
In Europe, the euro zone’s manufacturing PMI stayed at a
three-year low in June as activity in Germay and Spain
contracted at a faster pace.
SINGAPORE OVERALL PMI
Jun May Apr Mar Feb Jan Dec Nov Oct Sep
50.4 50.4 49.7 50.2 50.4 48.7 49.5 48.7 49.5 48.3
Electronics Index
50.4 50.8 51.5 51.5 51.0 50.5 49.7 50.9 52.1 47.2
New Export Orders Index
51.1 50.8 51.3 51.0 50.5 49.0 49.5 47.3 46.8 47.6
CONTEXT:
– Singapore’s PMI is produced ahead of government data on
manufacturing and exports.
– Economists who cover Singapore say the PMI does not appear
to track activity in pharmaceuticals, which has been Singapore’s
fastest-growing manufacturing sector in recent years.
– For more PMI reports from around the world, see
(Reporting by Kevin Lim; Editing by Jacqueline Wong)
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