Singapore manufacturing virtually unchanged in April
Nevertheless, the index remained above the 50-point threshold that separates expansion from contraction in the manufacturing sector for the eighth consecutive month.
April’s result reflected slightly slower growth rates in new orders, new exports and job hiring which more than offset a faster growth rate in factory activity.
Meanwhile, the electronics PMI decreased slightly from 51.8 in March to 51.6 in April.
FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 0.8% in 2017, which is down 0.7 percentage points from last month’s forecast. For 2018, the panel sees manufacturing output expanding 1.5%. ■