Singapore PMI September 2020

Singapore

Singapore: Manufacturing and electronics PMIs inch higher in September

October 3, 2020

The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for the manufacturing and electronics sectors both rose in September, pushing further into expansionary territory as they continued to recover after falling to the lowest levels in over a decade in April due to the coronavirus pandemic.

The manufacturing PMI inched up to 50.3 in September from 50.1 in August, thus moving slightly further above the 50-point threshold that separates expansion from contraction in the sector. September’s rise was attributed to faster rates of expansion in both new orders and new exports.

The electronics PMI increased to 50.9 points in September from 50.6 in August, the highest level recorded since September 2018. The uptick was likely driven by growth in new orders, although the employment picture remains muted.

FocusEconomics Consensus Forecast panelists expect manufacturing output to expand 0.1% in 2020, which is down 1.3 percentage points from last month’s estimate, and grow 3.5% in 2021, which is up 0.2 percentage points from last month’s estimate.


Author:, Economist

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Singapore PMI September 20 20

Note: Purchasing Managers’ Index. Readings above 50 points indicate an expansion in the manufacturing sector compared to the previous month, while readings below 50 points indicate a contraction.
Source: Singapore Institute of Purchasing and Materials Management (SIPMM).


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