Singapore: Manufacturing and electronics PMIs in expansionary territory in August
The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for the manufacturing and electronics sectors had divergent months in August, but both remained in expansionary terrain as they continued to shrug off the pandemic’s negative impact.
The manufacturing PMI inched down to 50.9 in August from 51.0 in July, but remained comfortably above the 50-point threshold that separates expansion from contraction in the sector and marked the 14th consecutive month of expansion in the manufacturing sector. The slowdown was largely attributed to softer expansions recorded in new orders, new exports, factory output and inventory.
Meanwhile, the electronics PMI edged up to 51.0 in August from 50.8 in July, logging the 13th consecutive month of expansion for the sector