Singapore PMI October 2021

Singapore

Singapore: Manufacturing and electronics PMIs remain in expansionary territory in October

November 5, 2021

The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for the manufacturing and electronics sectors both remained in expansionary terrain in October as they continued to recover well from the pandemic’s negative impact.

The manufacturing PMI clocked 50.8 in September, unchanged from August and thus still comfortably above the 50-point threshold that separates expansion from contraction in the sector. The reading marked the 16th consecutive month of expansion in the manufacturing sector and was likely driven by robust expansion rates in new orders, exports and factory output.

Meanwhile, the electronics PMI inched down to 51.1 in October from 51.2 in September, logging the 15th consecutive month of expansion for the sector.

FocusEconomics Consensus Forecast panelists expect manufacturing output to expand 3.7% in 2022, which is down 0.5 percentage points from last month’s estimate, and grow 3.0% in 2023.


Author:, Economist

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Singapore PMI October 2021 0

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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