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Covid-19 curbs slow down Singapore manufacturing activity in May

SINGAPORE - Mobility curbs at home and abroad to contain a flare up of Covid-19 slowed manufacturing activity in Singapore last month, even as the sector grew for an 11th month. However, analysts said that, assuming the Covid-19 curbs are lifted as scheduled, the full-year trajectory for the manufacturing sector remains sound. The Singapore Purchasing Managers’ Index (PMI) for last month posted a surprise retreat of 0.2 points from April to record a weaker rate of expansion at 50.7, according to data released on Wednesday (June 2). Economists in a Bloomberg poll had forecast a median of 51 points for the month, up from April’s 50.9, which was the highest reading since December 2018 – when the PMI came at 51.1.

Singapore factory activity grows at fastest pace since December 2018

The Straits Times https://str.sg/JtTn They can read the article in full after signing up for a free account. Share link: Or share via: Sign up or log in to read this article in full Sign up All done! This article is now fully available for you Read now Get unlimited access to all stories at $0.99/month for the first 3 months. Get unlimited access to all stories at $0.99/month for the first 3 months. including the ST News Tablet worth $398. Let s go! Spin the wheel for ST Read and Win now. Let s go! However, analysts said uncertainty about the new variants of Covid-19 poses downside risks to the outlook.

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