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Singapore's PMI contracts for 11th month in May

SINGAPORE
2016-06-02 22:27

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The Purchasing Managers' Index for Singapore's manufacturing sector came in at 49.8 for May, which is the 11th straight month of contraction, according to the Singapore Institute of Purchasing & Materials Management (SIPMM) on Thursday.

The May PMI is unchanged from April's reading, largely due to new orders and new exports posting marginal declines, which was offset by a marginal increase in factory output, said SIPMM.

A reading above 50 indicates that the manufacturing sector is generally expanding, while a reading below 50 suggests contraction.

Meanwhile, the corresponding index for the electronics sector came in at 49.1, 0.4 points lower than the April level.

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