Singapore PMI April 2016

Singapore

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.

FocusEconomics Consensus Forecast panelists expect manufacturing output to drop 2.2% in 2016, which is down 0.4 percentage points from last month’s forecast. For 2017, the panel sees manufacturing output expanding 1.2%.


Author: Massimo Bassetti, Economist

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Singapore PMI April 2016

Note: Purchasing Managers’ Index. Readings above 50 points indicate an expansion in the manufacturing sector while readings below 50 points indicate a contraction.
Source: Singapore Institute of Purchasing and Materials Management (SIPMM).


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