Singapore: Manufacturing PMI gains ground in April
May 1, 2016
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) edged up from 49.4 in March to 49.8 in April, marking a ten-month high. The index is now closer to the 50-threshold that separates contraction from expansion in the manufacturing sector, although it still remains in contractionary territory.
April’s result reflected improvements in six of the nine sub-components that comprise the index, including new export orders and output. However, deteriorations were recorded in stocks of finished goods and supplier delivery times.
In addition, the electronics PMI increased from 49.0 in March to 49.5 in April, thus moving closer to the 50-threshold and hitting a nine-month high.