Singapore: Manufacturing PMI gains ground in March
April 1, 2016
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched up from 48.5 in February to 49.4 in March, marking a three-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.
March’s result reflected improvements in seven of the nine sub-components that comprise the index, including new export orders and output, which more than offset the deterioration in finished goods.
In addition, the electronics PMI increased from 48.2 in February to 49.0 in March, thus moving closer to the 50-threshold and hitting a four-month high.