Singapore's PMI falls to 50.8 in May

SINGAPORE, June 3 (Xinhua) -- Singapore's Purchasing Managers' Index (PMI) dropped to 50.8 in May from 51.1 of the previous months, reflecting that the manufacturing sector expanded at a slower pace in May, according to statistics released on Tuesday.

 

The slowdown in pace came as employment contracted for a second month and the stockholding of finished goods declined.

 

A separate PMI for the electronics sector was unchanged at 50.4, the Singapore Institute of Purchasing & Materials Management said.

 

A PMI reading above 50 shows that activity in the manufacturing sector is expanding, while a reading below that indicates contraction.

 

Singapore's PMI reading has been in positive territory since the start of the year.