Here's proof that Singapore's tech manufacturing sector is finally rebounding

The -0.2pt decline was still good news.

According to CIMB, tt has been a mixed performance for tech manufacturers so far this year.

After a surprisingly strong start to the year (+3.3 pts in Jan and +2.2 pts in Feb to 52.1), tech PMI has been relatively volatile, dipping in three of the past four months.

Here's more from CIMB:

Nonetheless, the decline in Jun (-0.2 pt) to 51.2 was smaller than expected. Stronger output (+0.4 pt), inventories (+0.1 pt) and backlog orders (+0.9 pt) offset softer new orders (-2.1 pts) and new export orders (-1.6 pts).

Encouragingly, average new export orders rose 0.7 pt to 52.7 in 2Q13, (52 in 1Q13) and backlog orders rose 1.5 pts to 53.3 in 2Q13. Given this, together with a firm orders-to-finished tech goods ratio of 1.10x, we are seeing signs of a modest tech recovery.

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