In August, the manufacturing PMI elaborated by the Singapore Institute of Purchasing & Materials Management (SIPMM) fell to 49.1 points from 49.8 points in July. The figure marked the second consecutive monthly decline and drove the index to its lowest level since January. In addition, the index fell further below the 50-point threshold, which indicates a contraction in the manufacturing sector. According to the SIPMM, the deterioration "was attributed to further decline in new orders as well as first-time contraction in stockholdings of finished goods and imports". Meanwhile, a separate PMI elaborated for the all-important electronics sector improved over the previous month. In August, the index rose to 50.7 points from 49.2 points in July, on the back of "a first-time expansion in new export orders and production output but a decline in new orders".
Manufacturing PMI drops for second month in a row
September 1, 2012
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Singapore PMI Chart
Note: Purchasing Managers
Source: Singapore Institute of Purchasing and Materials Management (SIPMM).
Singapore Economic News
October 24, 2016
In September, consumer prices stayed flat compared to the previous month, following the 0.5% increase recorded in August.
October 17, 2016
In September, non-oil domestic exports (NODX) dropped 4.8% from the same month last year, deteriorating from August’s flat result.
October 14, 2016
According to advanced estimates released by the Ministry of Trade and Industry on 14 October, GDP declined a sharp 4.1% in Q3 from the previous quarter at a seasonally adjusted annualized rate (SAAR), down from Q2’s revised 0.2% rise (previously reported: +0.3% quarter-on-quarter).
October 14, 2016
At its second scheduled semi-annual meeting of 2016, which took place on 14 October, the Monetary Authority of Singapore (MAS) decided to leave the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band unchanged at zero percent.
October 3, 2016
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) picked up from 49.8 in August to a 15-month high of 50.1 in September.