Singapore: August manufacturing PMI records its best result since end-2014
September 13, 2017
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) rose from 51.0 in July to 51.8 in July, marking its best result since November 2014. Therefore, the manufacturing sector recorded its twelfth consecutive month of expansion as the index moved further above the 50-point threshold that separates expansion from contraction in the manufacturing sector.
August’s result reflected expansions in new orders, new exports, factory output and inventory levels which more than offset a further contraction in employment, which was nevertheless softer than in the previous month.
Meanwhile, the electronics PMI edged up from 52.2 in July to 53.2 in August, the highest level in almost five years.