Singapore PMI November 2016

Singapore

Singapore: Manufacturing PMI gains some ground in November

December 7, 2016

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) edged up from 50.0 in October to 50.2 in November, hitting a 17-month high. The index thus moved above the 50-threshold that separates expansion from contraction in the manufacturing sector. In September it had moved above the 50-threshold for the first time since June 2015.

Singapore's result in November reflected an improvement in output and new orders, with the latter achieving the best result since June 2015. Conversely, deteriorations were recorded in stocks of purchases and delivery times.

The electronics PMI decreased from 50.8 in October to 50.5 in November.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 2.0% in 2017, which is up 0.6 percentage points from last month’s projection. For 2018, the panel also expects manufacturing output to grow 2.0%, which is up 0.6 percentage points from last month’s forecast.


Author: Massimo Bassetti , Economist

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Singapore PMI November 2016 0

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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