Singapore factory activity ended a months-long slowdown to bounce back in April, on expansions in new orders, new exports, factory output and employment. Still, input prices continued to climb, amid industry concerns about supply crunches and cost pressures.
The Purchasing Managers’ Index (PMI), an early gauge of manufacturing sentiment, rose to 50.3 points, from 50.1 in March, according to the latest survey from the Singapore Institute of Purchasing and Materials Management (SIPMM) on Wednesday (May 4).
Meanwhile, the reading for Singapore’s linchpin electronics industry increased to 50.7 points, from 50.4 before. UOB economist Barnabas Gan, who said that the reading was in line with recent high-frequency data, said in a note: “The increase in April’s PMI reading was supported by Singapore’s continued recovery in its trade and manufacturing sectors.