A worker arranges pieces of fabric under embroidery machines inside the Esquel Group garment factory at the Vietnam-Singapore Industrial Park in Thuan An, Binh Duong province, Vietnam. (Photographer: Brent Lewin/Bloomberg)

Singapore PMI Drops Below 50 for First Time in Almost 3 Years

(Bloomberg) -- Singapore’s purchasing managers index slumped in May, signaling a contraction in manufacturing as trade tensions and a global slowdown weigh on the city state’s economy.