Singapore: Manufacturing and electronics PMIs dip in January
The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for the manufacturing and electronics sectors both ebbed slightly in January, but remained within expansionary terrain as they continued to recover from the pandemic’s negative impact.
The manufacturing PMI clocked in at 50.6 in January, slightly down from the 50.7 reading in December but remaining above the 50-point threshold that separates expansion from contraction in the sector. The reading marked the 19th consecutive month of expansion in the manufacturing sector and was likely driven by robust expansion rates in new orders, exports and factory output.
Meanwhile, the electronics PMI inched down to 50.8 in January from 51.0 in December, logging the 18th consecutive month of expansion for the sector.