The index hovered around 50.8 in June.
Fuelled by a recovery in the global electronics trade, the Singapore Purchasing Manager Index (PMI) ended the past quarter on a positive note, extending its stint in the expansionary territory to ten consecutive months.
In June, the index hovered around 50.8, according to a chart by OrangeTee.
The winning streak commenced in September last year when PMI rebounded from the negative territory to 50.1. Currently, the streak’s peak reading is 51.1, recorded in March 2017.
However, whilst the manufacturing sector has performed beyond expectations in recent months, growth has been uneven, with the electronics and precision engineering clusters expanding due to strong external demand for semiconductors.
“In contrast, the general manufacturing cluster and construction sector remain plagued by a shortage of private sector activity, which may negatively affect their demand for industrial space,” OrangeTee said.
Source: Singapore Business Review