Singapore PMI June 2020

Singapore

Singapore: Manufacturing and electronics PMIs rise in June

July 2, 2020

Both the manufacturing and electronics Purchasing Managers’ Indexes (PMIs) regained lost ground in June, as they continued to recover after falling to the lowest levels in over a decade in April due to a shock from the Covid-19 pandemic. The manufacturing PMI rose to 48.0 points from May’s 46.8 and the electronics PMI increased to 47.6 points from May’s 46.2. Despite the gains, both PMIs remained stuck below the 50-point threshold, signaling contractions in their respective sectors.

Looking at the details, June’s improvement was broad-based with upticks seen in new orders, output, employment and delivery times.

FocusEconomics Consensus Forecast panelists FocusEconomics Consensus Forecast panelists expect manufacturing output to contract 4.3% in 2020 before growing 4.7% in 2021.


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Singapore PMI June 20 20

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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