SINGAPORE: The manufacturing economy continued its rebound last month.
In numbers out on Tuesday, the Singapore Purchasing Managers' Index for June came in at 52.3 – an increase of 2.3 points over the previous month.
A reading above 50 indicates that the manufacturing economy is generally expanding.
It is the second straight month that the index is trending higher.
According to the Singapore Institute of Purchasing and Materials Management, the rise was due to higher new orders and export orders.
Higher levels of production output and inventory also helped to push up the index.
Meanwhile the corresponding index for the electronics sector also registered an increase of 2 points.
This is the 11th straight month of expansion for the sector.
Growth in the electronics sector was driven by increases in new orders from both domestic and overseas markets.