📊Executive Summary

Singapore's manufacturing sector has slipped into contraction as indicated by a PMI of 49.9. However, the electronics sector shows resilience with a PMI of 50.2, reflecting growth in new orders and factory output. Economists express concerns over the impact of US tariffs on the electronics industry, particularly regarding potential sectoral tariffs on semiconductors. While the immediate impact on Singapore may be limited, there are risks of indirect effects on exports and manufacturing momentum as global trade uncertainties persist. Procurement teams should monitor these developments closely as they could influence sourcing strategies and costs....