Singapore manufacturing dips slightly in May
Nevertheless, the index remained above the 50-point threshold that separates expansion from contraction in the manufacturing sector for the ninth consecutive month.
May’s result reflected slightly slower growth rates in new orders, new exports and output as well as a slight contraction in employment.
Meanwhile, the electronics PMI increased from 51.6 in April to 52.4 in May.
FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 0.8% in 2017, which is down 0.7 percentage points from last month’s forecast.
For 2018, the panel sees manufacturing output expanding 1.5%. ■