Singapore: Manufacturing PMI edges down in April
May 2, 2013
In April, the manufacturing PMI elaborated by the Singapore Institute of Purchasing & Materials Management (SIPMM) fell to 50.3 points. The figure was down from the 50.6 points observed in March but in line with market expectations. Despite the decline, the index remains above the 50-point threshold that indicates an expansion in the manufacturing sector.
The April print reflected a deterioration in seven out of the nine categories that compose the index, with the input prices as well as the stocks of purchases sub-indices recording the largest decreases.
Moreover, a separate PMI elaborated for the all-important electronics sector also deteriorated over the previous month. In April, the index fell to 51.2 points from the 51.9 points recorded in March.
FocusEconomics Consensus Forecast panellists expect manufacturing output to grow 2.7% in 2013, which is down 0.1 percentage points from last month's forecast. For 2014, the panel expects manufacturing output growth to accelerate to 4.4%.