Singapore PMI July 2020

Singapore

Singapore: Manufacturing PMI in expansionary territory in July, electronics PMI remains contractionary

August 3, 2020

The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for both the manufacturing and electronics sectors rose in July, as they continued to recover after falling to the lowest levels in over a decade in April in the face of the coronavirus pandemic.

The manufacturing PMI increased to 50.2 in July points from 48.0 in June, thus inching above the 50-point threshold that separates expansion from contraction in the sector. July’s improvement was driven by higher new orders, exports and factory output, while order backlogs expanded for the first time in five months.

The electronics PMI increased to 49.2 points in July from 47.6 in June, remaining marginally in contractionary territory. Slower contractions in new orders, export and factory output drove the reading higher, while steeper declines in employment and delivery times tempered the overall rise.

FocusEconomics Consensus Forecast panelists expect manufacturing output to contract 1.5% in 2020, which is down 1.0 percentage points from last month’s estimate, before growing 5.6% in 2021.


Author:, Economist

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


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