Singapore, July 3 -- Singapore's manufacturing activity expanded at a faster pace in June, supported by artificial intelligence (AI)-related tailwinds amid continued, but potentially easing, challenges posed by the ongoing conflict in the Middle East.
According to data released on July 2 by the Singapore Institute of Purchasing and Materials Management (SIPMM), the Purchasing Managers' Index (PMI) rose 0.3 point to 51.3, marking the 11th consecutive month of expansion and its highest reading since November 2018. A PMI reading above 50 indicates expansion, while a reading below 50 signals contraction.
Within manufacturing, the PMI for the electronics sector, the backbone of Singapore's manufacturing industry, also increased 0.3 point to 52...