Singapore PMI August 2017

Singapore

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.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 0.8% in 2017, which is down 0.7 percentage points from last month’s forecast. For 2018, the panel sees manufacturing output expanding 1.5%.


Author: Massimo Bassetti , Economist

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Singapore PMI August 2017

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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