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Singapore's manufacturing PMI declines to 50.3 in June

Copyfrom:Xinhua News AgencyPost Time:2022-07-05 14:53:09

SINGAPORE, July 4 (Xinhua) -- The Singapore purchasing managers' index (PMI), an early indicator of manufacturing activity, edged down 0.1 points from the previous month to post a slightly slower rate of expansion at 50.3 this June, the Straits Times reported on Monday night.

The overall manufacturing sector has now recorded 24 months of consecutive expansion, said the Singapore Institute of Purchasing and Materials Management (SIPMM), which publishes the Singapore Purchasing Managers' Index on a monthly basis.

Singapore's electronics sector PMI increased 0.3 points from May to record a faster rate of expansion at 50.8 in June. This is the 23rd month of expansion for the electronics sector.

A PMI reading above 50 indicates expansion, while a reading below 50 indicates contraction. 

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