Singapore: Manufacturing and electronics PMIs fall in February
February 3, 2021
The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for the manufacturing and electronics sectors inched lower in February, but both remained in expansionary territory as the two sectors continued to gradually recover after falling to the lowest levels in over a decade in April 2020 due to the coronavirus pandemic.
The manufacturing PMI inched down to 50.5 in February from 50.7 in January, thus moving slightly closer to the 50-point threshold that separates expansion from contraction in the sector and marking the eighth consecutive month of expansion in the manufacturing sector.
Likewise, the electronics PMI decreased marginally to 50.8 points in February from 51.0 in January, and thus fell to its lowest level in six months.
Author: Stephen Vogado, Economist