In October, the manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched up from 50.5 points in September to 51.2 points, which barely overshot the 50.9 points the market had expected. The index remains above the 50-point threshold that indicates expansion in the manufacturing sector. The improvement came on the back of an increase in manufacturing of new orders as well as in new export orders. The electronics PMI recorded 51.0 points in October, which was virtually unchanged over the 50.3 points seen in the previous month. FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 1.1% in 2013, which is down 0.7 percentage points from last month's forecast. For 2014, the panel expects manufacturing output growth to accelerate to 4.8%, which is down 0.7 percentage points from last month's estimate.
Manufacturing PMI inches up in October
November 1, 2013
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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.