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Home Business Insights

Singapore’s June PMI close to three-year low

FutureCFO Editors by FutureCFO Editors
July 8, 2019
PHOTO by Kin Pastor from Pexels

PHOTO by Kin Pastor from Pexels

Singapore’s PMI fell for the second straight month after shrinking 0.3 point to 49.6 in June. 

This is the lowest since August 2016, according to the Singapore Institute of Purchasing and Materials Management (SIPMM).

It was attributed to first-time contractions in key indicators including new orders, factory output, inventory and employment level. 

In addition, Singapore's indexes of new exports and imports showed slower growth.

Having fallen for seven consecutive months already, the electronics sector saw a drop of 0.2 point from May to 49.2 in June as well.

While the imports index’s expansion slowed down, input prices and electronic supplier deliveries indexes grew faster. 

Electronic finished goods index saw a slower pace of contraction but the electronics order backlog index shrank for the 14th consecutive month.

Related:  Average ransomware payment in Singapore hits US$1.16M
Tags: economic growthPMISingapore
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