Singapore PMI

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Singapore: Manufacturing PMI inches down in November, but remains in expansionary territory

December 2, 2014

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched down from 51.9 in October to 51.8 in November. As a result, the PMI remained above the 50-threshold that separates expansion from contraction in the manufacturing sector. This also marked the third consecutive month in which the index was in expansionary territory following August’s drop.

The reading, which exceeded the 51.6 that markets had expected, was driven by improvements in five of the nine categories that comprise the index. Input prices and employment were the components that recorded the highest increases. Conversely, output, delivery times, as well as stock of purchases and finished goods deteriorated compared to the previous month.

The electronics PMI declined over the previous month. The index fell from 52.5 in October to 50.6 in November. The result came in below the 52.1 that the markets had expected.

FocusEconomics Consensus Forecast panelists expect manufacturing output growth of 3.7% in 2014, which is down 0.4 percentage points from last month’s forecast. For 2015, the panel expects manufacturing output growth of 4.0%, which is up 0.1 percentage points from last month’s projection.


Author:, Economist

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Singapore PMI November 2014 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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