Singapore PMI June 2016

Singapore

Singapore: Manufacturing PMI decreases slightly in June

July 4, 2016

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) ticked down from 49.8 in May to 49.6 in June, marking the lowest result in three months. The index is sitting just below to the 50-threshold that separates contraction from expansion in the manufacturing sector.



June’s result reflected deteriorations in three of the nine sub-components that comprise the index, including new orders and output. However, improvements were recorded in stocks of purchases and stocks of finished goods, among others.



In addition, the electronics PMI inched down from 49.1 in May to 49.0 in June. The PMI is just below the 50-threshold at a three-month low.

FocusEconomics Consensus Forecast panelists expect manufacturing output to drop 0.4% in 2016, which is up 1.4 percentage points from last month’s forecast. For 2017, the panel sees manufacturing output expanding 1.5%.


Author: Massimo Bassetti, Economist

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Singapore PMI June 2016

Note: Purchasing Managers’ Index. Readings above 50 points indicate an expansion in the manufacturing sector while readings below 50 points indicate a contraction.
Source: Singapore Institute of Purchasing and Materials Management (SIPMM).


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