Singapore: Manufacturing PMI falls in November
December 3, 2013
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched down from 51.2 in October to 50.8 in November. The result undershot market expectations of the index remaining unchanged compared to the previous month's result. The index remains slightly above the 50-point threshold that indicates expansion in the manufacturing sector. The decrease was mainly the result of a fall in manufacturing of new export orders, imports and new orders.
The electronics PMI recorded a slight improvement in November compared to the previous month. The index rose from 51.0 points in October to 51.2 points in November.
FocusEconomics Consensus Forecast panelists expect manufacturing output to be flat in 2013, which is unchanged from last month's forecast. For 2014, the panel expects manufacturing output growth to accelerate to 3.2%, which is up 0.5 percentage points from last month's estimate.
Author: Dirina Mançellari, Senior Economist