Singapore: Manufacturing PMI opens year on high note
February 3, 2017
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) edged up from 50.6 in December to 51.0 in January. The index thus moved further above the 50-point threshold that separates expansion from contraction in the manufacturing sector, and marked the highest reading since November 2014.
January’s result reflected a broad-based improvement, with several sectors expanding to reach over two-year highs, including output, employment and new orders. Conversely, a very slight deterioration was recorded in delivery times.
The electronics PMI increased from 51.2 in December to 51.8 in January, the best reading since October 2014.