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Singapore manufacturing activity beats expectations to expand for 13th straight month
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Singapore manufacturing activity remains upbeat, expands for 12th straight month
straitstimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from straitstimes.com Daily Mail and Mail on Sunday newspapers.
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.
The Straits Times
https://str.sg/JtTn
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However, analysts said uncertainty about the new variants of Covid-19 poses downside risks to the outlook.
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