Singapore’s factory activity expands for 23rd straight month in May

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Singapore’s factory activity expanded for the 23rd straight month in May, despite challenges in the global market. Still, experts warned that growth could slow in the coming months ahead, due to woes tied to supply chain disruptions and China’s massive COVID lockdowns. The Purchasing Managers’ Index rose to 50.4 in May on the back of a rise in new orders. Growth in the electronics sector appears to be moderating, with new orders, exports and employment growing at a slower pace.

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