Singapore PMI July 2016


Manufacturing PMI decreases slightly in July

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) ticked down from 49.6 in June to a five-month low of 49.3 in July. This brought the index further below the 50-threshold that separates contraction from expansion in the manufacturing sector.

June’s result reflected a deterioration in five of the nine sub-components that comprise the index, including new orders and output. However, improvements were recorded in stocks of purchases and delivery times, among others.

Conversely, the electronics PMI increased from 49.0 in June to a 13-month high of 49.7 in July, bringing it to just below the 50-threshold.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 1.4% in 2016, which is up 1.8 percentage points from last month’s forecast. For 2017, the panel sees manufacturing output expanding 1.3%.

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Singapore PMI Chart

Singapore PMI July 2016 1

Note: Purchasing Managers’ Index. Readings above 50 points indicate an expansion in the manufacturing sector while readings below 50 points indicate a contraction.
Source: Singapore Institute of Purchasing and Materials Management (SIPMM).

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