Singapore: Manufacturing PMI edges down in September
October 3, 2018
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) ticked down to 52.4 in September from 52.6 in August, partly reversing August’s strong gains. Consequently, the index moved back closer to the crucial 50-point mark that separates expansion from contraction in Singapore’s manufacturing sector, but logged the 25th consecutive month of expansion nevertheless. September’s downturn came on relatively broad-based declines among the components, with new orders, exports, and output all easing in the month. On the bright side, employment ticked up to an over three-year high in September.
Meanwhile, the electronics PMI fell to an over one-and-a-half-year low of 51.4 in September from 52.0 in August.
Singapore Fixed Investment Forecast
FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 8.0% in 2018 and 3.6% in 2019.
Author: Lindsey Ice, Economist