Singapore: Manufacturing and electronics PMIs rise in December
The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for the manufacturing and electronics sectors both rose further into expansionary terrain in December as they continued to recover from the pandemic’s negative impact.
The manufacturing PMI clocked in at 50.7 in December, slightly up from the 50.6 reading in November, and so moved further above the 50-point threshold that separates expansion from contraction in the sector. The reading marked the 18th 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 up to 51.0 in December from 50.8 in November, logging the 17th consecutive month of expansion for the sector.