Singapore PMI May 2017

Singapore

Singapore: Manufacturing PMI dips slightly in May

June 6, 2017

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) edged down from 51.1 in April to a five-month low of 50.8 in May. Nevertheless, the index remained above the 50-point threshold that separates expansion from contraction in the manufacturing sector for the ninth consecutive month.

May’s result reflected slightly slower growth rates in new orders, new exports and output as well as a slight contraction in employment.

Meanwhile, the electronics PMI increased from 51.6 in April to 52.4 in May.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 0.8% in 2017, which is down 0.7 percentage points from last month’s forecast. For 2018, the panel sees manufacturing output expanding 1.5%.


Author: Massimo Bassetti, Economist

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Singapore PMI Chart


Singapore PMI May 2017

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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