Singapore’s PMI rises further in May, mirroring improvements in regionwide factory activity

SINGAPORE’S factory activity rose further in May, mirroring improvements in regionwide factory activity.

The purchasing managers’ index (PMI) edged up to 50.6, a 0.1 point gain from the previous month, indicated data from the Singapore Institute of Purchasing and Materials Management (SIPMM) on Monday (Jun 3). This was the ninth straight month that it remained in expansionary territory.

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