Singapore: Manufacturing PMI falls below threshold
January 6, 2014
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched down from 50.8 in November to 49.7 in December. The figure came in below the 50.1 points the markets had expected. As a result, the index is now below the 50-point threshold that indicates contraction in the manufacturing sector. The decrease was mainly the result of a fall in both the employment and imports indexes.
The electronics PMI also recorded a deterioration compared to the previous month. The index fell from 51.2 points in November to 50.1 points in December.
FocusEconomics Consensus Forecast panelists expect manufacturing output growth to be 3.6% in 2014, which is unchanged from last month's forecast. For 2015, the panel expects manufacturing output growth to accelerate to 3.5%.
Author: Dirina Mançellari, Senior Economist