A key drag came from the electronics PMI which remained contractionary at 47.6 points. Still, this is a 1.6 point increase from the 46.2 points the segment logged in May.
Singapore’s manufacturing activity made a surprise expansion in June after five straight months of contraction.
Data released by the Singapore Institute of Purchasing and Materials Management (SPIMM) on August 3 shows the republic’s Purchasing Manager’s Index (PMI) rose 2.2 points in July to 50.2 – higher than the 48.6 median estimate logged by economists in a Bloomberg survey.
