Singapore PMI February 2016

Singapore

Singapore: Manufacturing PMI inches down in February

March 4, 2016

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched down from 49.0 in January to 48.5 in February, marking its lowest value since October 2012. As a consequence, the index fell further below the 50-threshold that separates contraction from expansion in the manufacturing sector.

February’s result reflected deteriorations in seven of the nine sub-components that comprise the index, including new export orders and output, which more than offset an improvement in finished goods.

In addition, the electronics PMI ticked down from 48.5 in January to 48.2 in February, thus falling further below the 50-threshold.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 3.0% in 2016, which is down 2.0 percentage points from last month’s forecast. For 2017, the panel sees manufacturing output expanding 1.4%.


Author:, Economist

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Singapore PMI February 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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