Singapore PMI September 2016


Manufacturing PMI returns to expansionary territory in September

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. This brought it above the 50-threshold that separates expansion from contraction in the manufacturing sector. The index had been resting in contractionary territory since June 2015.

September’s result reflected an improvement in six of the nine sub-components that comprise the index, including new orders, output and new export orders, with the latter achieving the best result in over one-and-a-half year. Deteriorations were recorded in imports and employment.

The electronics PMI also increased from 50.2 in August to a 15-month high of 50.3 in September, thus moving a bit further above the 50-threshold.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 1.5% in 2016, which is down 0.2 percentage points from last month’s forecast. For 2017, the panel sees manufacturing output expanding 1.4%.

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Singapore PMI Chart

Singapore PMI September 2016

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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