Singapore: Manufacturing PMI inches up in January, remains in contractionary territory
February 5, 2015
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched up from 49.6 in December to 49.9 in January. As a result, the PMI is now even closer to the 50-threshold that separates contraction from expansion in the manufacturing sector.
The reading, which was virtually in line with the 49.8 that the markets had expected, was driven by improvements in seven out of the nine components that comprise the index. The largest increases were recorded in output, stock of purchases and imports. Conversely, employment and input prices deteriorated compared to the previous month.
The electronics PMI remained unchanged at December’s 50.5. The result was again almost in line with the 50.4 that the markets had expected.
Author: Cecilia Simkievich, Economist