POST Online Media Lite Edition


Singapore: Good start for manufacturing sector

Staff Writer |
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) rose to 53.1 in January from 52.8 in December, marking the best result since December 2009.

As a result, the manufacturing sector recorded its 17th consecutive month of expansion, as it moved further above the 50-point threshold that separates expansion from contraction in the manufacturing sector.

January’s result reflected a nearly broad-based improvement: faster expansions were recorded in factory output, new orders and new export orders, which more than offset a marginally slower expansion in new employment.

Meanwhile, the electronics PMI edged down from December’s 53.2 to 52.9 in January; nonetheless signaling still-healthy expansionary conditions.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 1.5% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees manufacturing output expanding 1.6%.

What to read next

Singapore manufacturing dips slightly in May
Singapore manufacturing virtually unchanged in April
Singapore GDP annual growth rate strongest in over a year