Singapore: Manufacturing PMI improves marginally in July
The Singapore Institute of Purchasing and Materials Management (SIPMM) Purchasing Managers’ Index (PMI) rose to 49.8 in July from June’s 49.7. As such, the index moved marginally closer to the 50.0 no-change threshold, signaling a slightly softer deterioration in operating conditions compared to the previous month.
The headline print reflected an improvement in new orders, new exports, output and employment. That said, inventories contracted at a steeper pace. Meanwhile, the electronics PMI inched up to 49.3 in July from June’s 49.0.