Singapore PMI

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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.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 3.1% in 2015, which is down 0.9 percentage points from last month’s forecast. For 2016, the panel sees manufacturing output expanding 4.0%.


Author:, Economist

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Singapore PMI January 2015 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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