Output for S’pore electronics and non-electronics diverge a second month

SINGAPORE – Factory output for electronics and non-electronics continue to diverge for a second month in June and may start to become a source of concern.

This divergence is also reflected in the underlying indexes for both the manufacturing and electronics PMIs. Mr Chua was optimistic about the improving external demand for electronics, with an upturn in the global tech cycle likely to be underpinned by the replacement of smartphones and PCs, as well as from the increasing ubiquity of artificial intelligence applications.

Maybank Research’s senior economist, Dr Chua Hak Bin, said: “Such extended disruptions may eventually dampen the recovery of both manufacturing and electronics growth in the coming months. This was compounded by employment within the broader manufacturing PMI slipping into contractionary territory after falling for three consecutive months, while supplier deliveries for the electronics PMI – which were already in contraction – saw its downward trajectory steepen over that same period.

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