Singapore’s PMI dips in April but remains in expansion for 8th straight month

SINGAPORE’S overall factory activity grew at a slightly slower pace in April, but the key electronics sector saw a faster pickup, according to data from the Singapore Institute of Purchasing and Materials Management (SIPMM) on Thursday (May 2).

The purchasing managers’ index (PMI) dropped 0.2 point to 50.5 last month, though it still remained in expansion territory for the eighth straight month.

A reading above 50 on the index indicates growth from the previous month, while one below 50 points to a contraction.