Singapore: Manufacturing and electronics PMIs remain in expansionary territory in September
October 5, 2021
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 September, but both remained in expansionary terrain as they continued to shrug off the pandemic’s negative impact.
The manufacturing PMI inched down to 50.8 in September from 50.90 in August, but remained comfortably above the 50-point threshold that separates expansion from contraction in the sector and marked the 15th consecutive month of expansion in the manufacturing sector. September’s lower reading was mainly driven by slower expansion rates in new orders, new exports and factory output.
Meanwhile, the electronics PMI edged up to 51.2 in September from 51.0 in August, logging the 14th consecutive month of expansion for the sector.
Author: Stephen Vogado, Economist