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Singapore PMI returns to growth in May, employment falls
June 5, 2012 / 1:31 PM / 5 years ago

Singapore PMI returns to growth in May, employment falls

 SINGAPORE, June 5 (Reuters) - Manufacturing activity in
Singapore expanded slightly in May, reversing a contraction in
April as orders and inventories rose, the latest Purchasing
Manager's Index (PMI) showed.	
 The sub-indicator for employment, however, contracted for
the 11th straight month, the Singapore Institute of Purchasing &
Materials Management (SIPMM) said on Tuesday.	
 Singapore's PMI stood at 50.4 points in May, recovering from
49.7 in April. A reading above 50 indicates an increase in
manufacturing activity while a number below 50 shows a
contraction.	
 A separate PMI for Singapore's important electronics sector
stayed in positive territory for the fifth straight month with a
May reading of 50.8, down from April's 51.5, SIPMM said.	
 Asian companies have been hit by weak demand in the West as
well as a slowdown in China.	
 HSBC, which compiles a PMI measuring business activity in
Hong Kong, said on Tuesday the territory's index declined to
49.4 in May from 50.3 in April as new orders from China fell for
a second consecutive month and employment contracted at a faster
pace. 	
 Global manufacturing activity expanded at its weakest pace
in five months in May with a battered Europe proving the main
drag on growth, a PMI produced by JPMorgan showed on Friday.
 	
	
 SINGAPORE OVERALL PMI  	
May  Apr  Mar  Feb  Jan  Dec  Nov  Oct  Sep   Aug     	
50.4 49.7 50.2 50.4 48.7 49.5 48.7 49.5 48.3  49.4	
      	
 Electronics Index  	
50.8 51.5 51.5 51.0 50.5 49.7 50.9 52.1 47.2  48.0  	
 	
 New Export Orders Index	
50.8 51.3 51.0 50.5 49.0 49.5 47.3 46.8 47.6  48.7	
     	
 CONTEXT:	
 - Singapore's PMI is produced ahead of government data on
manufacturing and exports.	
 - Economists who cover Singapore say the PMI does not appear
to track activity in pharmaceuticals, which has been Singapore's
fastest-growing manufacturing sector in recent years.	
  - For more PMI reports from around the world, see 	
 	
	
 (Reporting by Kevin Lim)	
 

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