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Singapore’s Manufacturing PMI rose slightly to 49.7 in May 2025 from 49.6 in April, marking the second month of shrinking activity after 19 months of growth. While factory activity improved a little, it stayed weak due to ongoing uncertainty, even though global trade tensions have eased. On May 12, the US and China agreed to roll back many tariffs temporarily, helping improve market confidence. Singapore’s electronics sector PMI also rose slightly to 49.9, after ending a 17-month expansion in March. New export orders for both overall manufacturing and electronics stayed above contraction levels but dropped from recent highs. Employment and business outlook remained weak, showing concern about future demand.