Singapore PMI slows down to 50.8

But electronics sector posted a faster expansion at 52.4.

The Singapore Purchasing Managers’ Index (PMI) recorded a dip of 0.3 point from the previous month to record a slower expansion rate at 50.8 in May, according to the latest report by the Singapore Institute of Purchasing & Materials Management (SIPMM).

"The latest reading was attributed to a contraction reading in employment, as well as slower growth rates in key indicators of factory output, new orders, new exports, and inventory level," SIPMM said.

Meanwhile, the electronics sector PMI recorded an increase of 0.8 point from the previous month to post a faster rate of expansion at 52.4. This was the highest recorded reading since October 2014, and the higher reading was attributed to increases in key indicators of electronics new orders, new exports, factory output, inventory level and electronics employment.