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Singapore PMI January 2023

Singapore: Manufacturing PMI increases slightly in January

The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI came in at 49.8 in January, up from 49.7 in December. Consequently, the index remained below the 50.0 no-change threshold, signaling a continued—albeit softer—deterioration in manufacturing sector operating conditions from the previous month.

The reading was driven by slower contractions in new orders, new exports, factory output and inventory. Meanwhile, the electronics PMI rose from 48.9 in December to 49.1 in January.

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