Singapore’s manufacturing activity made a surprise expansion in June after five straight months of contraction. 

Data released by the Singapore Institute of Purchasing and Materials Management (SPIMM) on August 3 shows the republic’s Purchasing Manager’s Index (PMI) rose 2.2 points in July to 50.2 – higher than the 48.6 median estimate logged by economists in a Bloomberg survey.

A key drag came from the electronics PMI which remained contractionary at 47.6 points. Still, this is a 1.6 point increase from the 46.2 points the segment logged in May.

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