Singapore's Purchasing Managers' Index (PMI), a key early indicator of manufacturing activity, rose by 0.1 point from July to reach 50 in August, according to the latest report released Tuesday night by the Singapore Institute of Purchasing and Materials Management.
A PMI reading above 50 signals expansion in the manufacturing sector, while a reading below 50 indicates contraction. The latest figure, following a brief dip the previous month, suggests a "limbo" state, said OCBC Bank chief economist Selena Ling.
The electronics sector PMI also improved, edging up 0.2 point to 50.4 in August, marking a third consecutive month of growth.
Still, uncertainties remain. DBS senior economist Chua Han Teng warned of a "looming storm" for electronics manufacturers from U.S. sectoral tariffs on semiconductors, though specific exemptions may help cushion the impact, according to local newspaper The Business Times.
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