Singapore's PMI contracts for 11th month in May
Xinhua, June 2, 2016 Adjust font size:
The Purchasing Managers' Index for Singapore's manufacturing sector came in at 49.8 for May, which is the 11th straight month of contraction, according to the Singapore Institute of Purchasing & Materials Management (SIPMM) on Thursday.
The May PMI is unchanged from April's reading, largely due to new orders and new exports posting marginal declines, which was offset by a marginal increase in factory output, said SIPMM.
A reading above 50 indicates that the manufacturing sector is generally expanding, while a reading below 50 suggests contraction.
Meanwhile, the corresponding index for the electronics sector came in at 49.1, 0.4 points lower than the April level. Endit