Singapore PMI January 2017

Singapore

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.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 0.8% in 2017, which is down 0.7 percentage points from last month’s forecast. For 2018, the panel sees manufacturing output expanding 1.5%.


Author: Massimo Bassetti, Economist

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Singapore PMI January 2017

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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