📊Executive Summary

Manufacturing activity in Singapore has continued to decline, primarily due to a prolonged downturn in the electronics sector. The Singapore Purchasing Managers’ Index (PMI) fell to 49.7 in April, indicating ongoing contraction, particularly in electronics which dropped to 49.2. This decline is attributed to reduced new orders and inventory levels, reflecting weak demand from key markets like the US and EU. Economists predict further contraction in manufacturing and non-oil domestic exports, with a potential 5.4% decrease in manufacturing output for the year. The Monetary Authority of Singapore has noted that the global electronics industry is facing a significant downturn, with expectations of continued weakness in demand....