Singapore PMI

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Singapore: Manufacturing PMI moves further into contractionary territory in April

May 1, 2015

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched down from 49.6 in March to 49.4 in April. The index has been on a downward trend since recording a multi-year-high of 51.9 in October of last year. April’s print marks the fifth consecutive reading below the 50-threshold that separates contraction from expansion in the manufacturing sector and was the lowest reading in over two years.

April’s result reflected deteriorations in five of the nine sub-components that comprise the index. New exports orders, finished goods, imports, output and stock of purchases declined compared to the previous month. Conversely, the remaining four categories improved somewhat compared to March. The largest increases were registered in delivery times and input prices.

The electronics PMI decreased from 50.1 in March to 49.1 in April, returning to contractionary territory after only a month above the 50-threshold. This marked the lowest print since December 2012.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 1.3% in 2015, which is down 0.3 percentage points from last month’s forecast. For 2016, the panel sees manufacturing output expanding 3.9%.


Author:, Economist

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Singapore PMI April 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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