Singapore PMI July 2021

Singapore

Singapore: Manufacturing and electronics PMIs push further into expansionary territory July

August 2, 2021

The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for both the manufacturing and electronics sectors rose slightly in July, thus moving further into expansionary territory as the two sectors continue to gradually recover from last year’s pandemic-induced downturn.

The manufacturing PMI rose to 51.0 in July from 50.8 in June, thus moving further above the 50-point threshold that separates expansion from contraction in the sector and marking the 13th consecutive month of expansion in the manufacturing sector. The higher reading was attributed to faster growth in new orders, output and employment.

Likewise, the electronics PMI increased to 50.8 points in July from 50.6 in June, and thus clocked the 12th consecutive month of expansion for the sector.

FocusEconomics Consensus Forecast panelists expect manufacturing output to expand 10.5% in 2021, which is up 1.3 percentage points from last month’s estimate, and grow 3.9% in 2022.


Author:, Economist

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Singapore PMI July 2021

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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