Singapore PMI January 2016

Singapore

Singapore: Manufacturing PMI inches down in January

February 4, 2016

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched down from 49.5 in December to 49.0 in January, marking a three-month low. As a consequence, the index fell further below the 50-threshold that separates contraction from expansion in the manufacturing sector.

January’s result reflected deteriorations in five of the nine sub-components that comprise the index, including output, employment and new orders.

In addition, the electronics PMI ticked down from 48.9 in December to 48.5 in January, 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 January 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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