Singapore skyline

Singapore PMI March 2020

Singapore: Manufacturing and electronics PMIs plummet in March

At the close of the first quarter, Singapore’s private-sector business conditions deteriorated on the back of a worsening of the Covid-19 pandemic weighing heavily on output and demand levels. The Purchasing Managers’ Index (PMI), produced by the Singapore Institute of Purchasing and Materials Management (SIPMM), showed that both the manufacturing and electronics sectors contracted at the steepest rate in over a decade.

The crucial electronics sector’s PMI fell to the lowest level since the global financial crisis (March: 44.1; February: 47.6) owing to steep drops in output, new exports and new orders. Moreover, the same narrative played out in the manufacturing sector, whose PMI also fell to the lowest level since February 2009 on the heels of contractions in output and demand.

Looking ahead, the outlook remains mired with downside risks and hinges largely on developments surrounding the Covid-19 pandemic, which will continue to disrupt trade and supply chains; the longevity and severity of the health crisis remains uncertain.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest